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dc.contributor.authorCzajkowski, Mikolajen_UK
dc.contributor.authorHanley, Nicholasen_UK
dc.contributor.authorLaRiviere, Jacoben_UK
dc.contributor.authorSimpson, Katherineen_UK
dc.description.abstractIn this study we elicit agents' prior information set regarding a public good, exogenously give information treatments to survey respondents and subsequently elicit willingness to pay for the good and posterior information sets. The design of this field experiment allows us to perform theoretically motivated hypothesis testing between different updating rules: non-informative updating, Bayesian updating, and incomplete updating. We find causal evidence that agents imperfectly update their information sets. We also field causal evidence that the amount of additional information provided to subjects relative to their pre-existing information levels can affect stated WTP in ways consistent overload from too much learning. This result raises important (though familiar) issues for the use of stated preference methods in policy analysis.en_UK
dc.relationCzajkowski M, Hanley N, LaRiviere J & Simpson K (2014) What is the Causal Effect of Information and Learning about a Public Good on Willingness to Pay? [SEDP-2014-05]. Stirling Economics Discussion Paper, 2014-05.en_UK
dc.relation.ispartofseriesStirling Economics Discussion Paper, 2014-05en_UK
dc.subjectPublic Goodsen_UK
dc.subjectBehavioral Economicsen_UK
dc.subjectStated Preferenceen_UK
dc.titleWhat is the Causal Effect of Information and Learning about a Public Good on Willingness to Pay?en_UK
dc.typeWorking Paperen_UK
dc.type.statusAM - Accepted Manuscripten_UK
dc.subject.jelQ51: Valuation of Environmental Effectsen_UK
dc.subject.jelD83: Search; Learning; Information and Knowledge; Communication; Belief; Unawarenessen_UK
dc.subject.jelD81: Criteria for Decision-Making under Risk and Uncertaintyen_UK
dc.contributor.affiliationUniversity of Warsawen_UK
dc.contributor.affiliationUniversity of Tennesseeen_UK
rioxxterms.typeWorking paperen_UK
local.rioxx.authorCzajkowski, Mikolaj|en_UK
local.rioxx.authorHanley, Nicholas|en_UK
local.rioxx.authorLaRiviere, Jacob|en_UK
local.rioxx.authorSimpson, Katherine|en_UK
local.rioxx.projectInternal Project|University of Stirling|
Appears in Collections:Economics Working Papers

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