Environmental Economics

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.

  • Keywords

    Subject:
    1. Benefits Analysis
    1. Benefits Analysis - Valuation
    1. Benefits Analysis - Valuation - Stated Preference
    Environmental Media:
    f. Multimedia
    Authors:
    McClelland, Gary H.
    Schulze, William D.
    Coursey, Don L.
    EPA Project Officer/ Manager:
    Carlin, Alan
    Geographic Area:
    Study Purpose:
    Empirical Application, Methodology Development & Evaluation
    Inventory Record #: EE-0391
  • Participating Organizations

    Research Organization:

    Colorado at Boulder, University of,
    Departments of Psychology and Economics
    Address:
    City: Boulder State: CO ZIP:
    Phone: Fax:
    E-mail:
    Funding Organization:
    Environmental Protection AgencyAddress:
    City: Washington State: DC ZIP:
    Phone: Fax:
    E-mail:
  • Report Details
    Type:
    Draft
    Date:
    03/01/1988
    Number of Pages:
    40
    Comment:
    Grant/Contract #:
    CR813686
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    Date Linked: 08/25/2017