TY  - JOUR
AU  - Alevy,Jonathan E.
AU  - List,John
AU  - Adamowicz,Wiktor
TI  - How Can Behavioral Economics Inform Non-Market Valuation?  An Example from the Preference Reversal Literature
JF  - National Bureau of Economic Research Working Paper Series
VL  - No. 16036
PY  - 2010
Y2  - May 2010
UR  - http://www.nber.org/papers/w16036
L1  - http://www.nber.org/papers/w16036.pdf
N1  - Author contact info:
Jonathan E. Alevy
University of Alaska Anchorage
E-Mail: afja@uaa.alaska.edu

John List
Department of Economics
University of Chicago
1126 East 59th
Chicago, IL 60637
Tel: 301/405-1288
Fax: 301/314-9091
E-Mail: jlist@uchicago.edu

wiktor adamowicz
University of Alberta
Department of Rural Economy
515 General Services Building
Edmonton, AB T6G-2H1
Canada
E-Mail: dasskdadfask@ww.edu
AB  - Psychological insights have made inroads within most major areas of study in economics.  One area where less advance has been made is environmental and resource economics.  In this study, we examine the implications of preference reversals over evaluation modes, in which stated economic values critically depend on whether the good is valued jointly with others or in isolation.  The question arises because two commonly used methods for eliciting stated preferences differ in that one presents objects together and another presents objects to be evaluated in isolation.  Beyond showing an example of the import of behavioral economics, our empirical evidence sheds new light on the factors associated with insensitivity of valuations to the scope of the good.
ER  -