DO “CAPITALIZATION EFFECTS” FOR PUBLIC GOODS REVEAL THE PUBLIC'S WILLINGNESS TO PAY?
نویسندگان
چکیده
منابع مشابه
Do “Capitalization Effects” for Public Goods Reveal the Public’s Willingness to Pay? By NICOLAI V. KUMINOFF
This paper develops a welfare theoretic framework for interpreting evidence on the impacts of public programs on housing markets. We extend Rosen’s hedonic model to explain how housing prices capitalize exogenous shocks to local public goods and externalities. The model predicts that trading between heterogeneous buyers and sellers will drive a wedge between these “capitalization effects” and w...
متن کاملIndividual and Household Willingness to Pay for Public Goods
In this paper, the issue of whether willingness to pay (WTP) for the benefits generated by a public good should be elicited on an individual or a household basis is addressed. Differences between individual and household WTP may arise when members of the household are mutually altruistic. It is shown that, for general specifications of altruism, household WTP is less than the sum of household m...
متن کاملWillingness to Pay for Heterogeneous Goods in Online Auctions
In online commerce, a buyer cannot directly examine the product and has to rely heavily on the reliability of the seller. In this setting, the reputation of the seller, together with any other information signals on the quality of the product, can play an important role in determining the buyer’s willingness to pay for the good. However, while the impact of reputation on willingness to pay for ...
متن کاملWillingness to pay for public health policies to treat illnesses.
As the US pursues health care reform, it is important to understand the patterns in demand for, and opposition to, public provision of medical treatments. Using data from a nationally representative survey, we develop and estimate a utility-theoretic choice model to quantify demand for publicly provided medical treatment policies. We find diminishing marginal utility for increased recoveries an...
متن کاملDo Interruptions Pay off? Effects of Interruptive Ads on Consumers' Willingness to Pay
We present the results of a study designed to measure the impact of interruptive advertising on consumers' willingness to pay for products bearing the advertiser's brand. Subjects participating in a controlled experiment were exposed to ads that diverted their attention from a computer game they were testing. We measured subjects' willingness to pay for a good associated with the advertised bra...
متن کاملذخیره در منابع من
با ذخیره ی این منبع در منابع من، دسترسی به آن را برای استفاده های بعدی آسان تر کنید
ژورنال
عنوان ژورنال: International Economic Review
سال: 2014
ISSN: 0020-6598
DOI: 10.1111/iere.12088