Willingness-to-pay and willingness-to-accept for risky and ambiguous lotteries

DOI10.1007/BF01207552MaRDI QIDQ1907995zbMATH OpenFDO

Authors Roselies Eisenberger, Martin Weber

Publication date 31 March 1996

Published in Journal of Risk and Uncertainty (Search for Journal in Brave)

Full work available at URL https://doi.org/10.1007/BF01207552

zbMATH Keywords

ambiguityendowmentexperimental economics

Mathematics Subject Classification ID

Microeconomic theory (price theory and economic markets) (91B24) Consumer behavior, demand theory (91B42)

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Cites work

• A Simple Axiomatization of Nonadditive Expected Utility
• Maxmin expected utility with non-unique prior
• Recent developments in modeling preferences: Uncertainty and ambiguity
• Risk, ambiguity and the Savage axioms
• Subjective Probability and Expected Utility without Additivity
• Uncertainty Aversion, Risk Aversion, and the Optimal Choice of Portfolio

Cited in

(18)

• Recursive expected utility and the separation of attitudes towards risk and ambiguity: An experimental study
• Imprecise preferences and the WTP-WTA disparity
• Payoff kinks in preferences over lotteries
• An experimental investigation of the impact of ambiguity on the valuation of self-insurance and self-protection
• An experiment on the evaluation of information under risk and ambiguity
• Incomplete preferences, willingness to pay, and willingness to accept
• Individual-level loss aversion in riskless and risky choices
• On reference dependence and complementary symmetry
• Near-losses in insurance markets: an experiment
• The effects of uncertainty on the WTA-WTP gap
• Common consequence effects in pricing and choice
• Do trade union leaders violate subjective expected utility? some insights from experimental data
• Lottery- and survey-based risk attitudes linked through a multichoice elicitation task
• Ambiguity attitudes, framing, and consistency
• Zooming in on ambiguity attitudes
• On a disparity between willingness to pay and willingness to accept under the rank-dependent utility model
• Myopic risk-seeking: The impact of narrow decision bracketing on lottery play
• Risk averse preference models for normalised lotteries based on simulation

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