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- W2039634555 abstract "Abstract Repeated trials are often employed in economics experiments. The rationale is that by allowing respondents to `practice' in the (often unusual) market situations in which experiments place them, they are given the opportunity to refine their responses to more accurately reflect their preferences. This paper presents the results of a pilot experiment in which repeated trials are used to elicit and compare willingness-to-pay (WTP) and willingness-to-accept (WTA) measures of value while controlling for other sources of disparity that have been proposed in the literature. Other studies have found that WTP and WTA do not converge over repeated trials, but this study finds the more disturbing result that the disparity between the two does not even decrease over repeated trials. However, individual respondents show evidence of learning over the series of trials and so there appears to be value in the practice of incorporating repeated trials in experiments." @default.
- W2039634555 created "2016-06-24" @default.
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- W2039634555 date "2000-02-01" @default.
- W2039634555 modified "2023-09-27" @default.
- W2039634555 title "WTP and WTA in repeated trial experiments: Learning or leading?" @default.
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- W2039634555 doi "https://doi.org/10.1016/s0167-4870(99)00036-7" @default.
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