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| Tekijä: | Cherry, T. L. Crocker, T. D. Shogren, J. F. |
| Otsikko: | Rationality spillovers |
| Lehti: | Journal of Environmental Economics and Management
2003 : JAN, VOL. 45:1, p. 63-84 |
| Asiasana: | lotteries preferences rationality |
| Kieli: | eng |
| Tiivistelmä: | This article discusses whether the rationality that is induced by market discipline spills over to nonmarket valuation settings. The results of an experiment show that this new phenomenon - a rationality spillover - exists. The rationality stimulated by market-like discipline extends to the nonmarket setting, and these spillover effects are robust even when the nonmarket setting involves hypothetical choices and environmental lotteries. It is found that people stop reversing their oreferences for lotteries by revising downward their stated values to buy and sell high-risk lotteries; they do not change their preference ordering. |
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