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The Effects of Framing and the Status Quo on Compensating and Equivalent Variation Measures of Value
This paper reports on a number of experiments which were designed to explore the effects of framing on the traditional measures of value used in welfare economics. The reason for this particular focus should be obvious in that the possible presence of framing effects does severe damage to welfare economics as it is currently conceived while having little impact on the existence of market equilibria, etc. In addition, the research has been carried out as a collaborative effort between psychology and economics drawing on laboratory methods and theory from both disciplines in an attempt to explain the rather different results obtained by other researchers.
1. Benefits Analysis
1. Benefits Analysis - Valuation
1. Benefits Analysis - Valuation - Stated PreferenceEnvironmental Media:
f. MultimediaAuthors: McClelland, Gary H.
Schulze, William D.
Coursey, Don L.EPA Project Officer/ Manager:
Carlin, AlanGeographic Area:Study Purpose: Empirical Application, Methodology Development & Evaluation
- Participating Organizations
Colorado at Boulder, University of,
Departments of Psychology and Economics
City: Boulder State: CO ZIP:
Environmental Protection Agency Address:
City: Washington State: DC ZIP:
- Report Details
DraftDate: 03/01/1988Number of Pages: 40Grant/Contract #: CR813686
- How to Obtain Report