Causal effects of information friction on willingness to pay for hurricane-resistant buildings

IF 1.6 3区经济学 Q2 ECONOMICS

Journal of Behavioral and Experimental Economics Pub Date : 2024-10-01 DOI:10.1016/j.socec.2024.102297

Sebastain N. Awondo, Lawrence S. Powell

引用次数: 0

Abstract

We investigate the causal effects of information provision on willingness to pay (WTP) for precautionary building standards. In a randomized stated preference field experiment, we present video evidence that hurricane-resistant building standards outperform traditional building standards to a random sample of homeowners. Our analysis reveals evidence consistent with causal effects of video information on WTP for hurricane-resistant buildings. Overall, alleviating performance information friction increases WTP by $634 on average and three times more among risk-neutral homeowners if the WTP payment card range is not truncated.

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信息摩擦对抗击飓风建筑物支付意愿的因果效应

我们研究了信息提供对预防性建筑标准支付意愿（WTP）的因果效应。在随机陈述偏好现场实验中，我们向随机抽样的房主展示了抗飓风建筑标准优于传统建筑标准的视频证据。我们的分析表明，视频信息对抗飓风建筑的 WTP 产生了因果效应。总体而言，如果不截断 WTP 支付卡的范围，减轻性能信息的摩擦会使 WTP 平均增加 634 美元，在风险中性的房主中增加了三倍。

本文章由计算机程序翻译，如有差异，请以英文原文为准。

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来源期刊

Journal of Behavioral and Experimental Economics ECONOMICS-

CiteScore

2.60

自引率

12.50%

发文量

113

审稿时长

83 days

期刊介绍： The Journal of Behavioral and Experimental Economics (formerly the Journal of Socio-Economics) welcomes submissions that deal with various economic topics but also involve issues that are related to other social sciences, especially psychology, or use experimental methods of inquiry. Thus, contributions in behavioral economics, experimental economics, economic psychology, and judgment and decision making are especially welcome. The journal is open to different research methodologies, as long as they are relevant to the topic and employed rigorously. Possible methodologies include, for example, experiments, surveys, empirical work, theoretical models, meta-analyses, case studies, and simulation-based analyses. Literature reviews that integrate findings from many studies are also welcome, but they should synthesize the literature in a useful manner and provide substantial contribution beyond what the reader could get by simply reading the abstracts of the cited papers. In empirical work, it is important that the results are not only statistically significant but also economically significant. A high contribution-to-length ratio is expected from published articles and therefore papers should not be unnecessarily long, and short articles are welcome. Articles should be written in a manner that is intelligible to our generalist readership. Book reviews are generally solicited but occasionally unsolicited reviews will also be published. Contact the Book Review Editor for related inquiries.