Does Part-Whole Bias Exist? An Experimental Investigation
Bibliographic Data
| ID | 9713349 |
|---|---|
| Authors | Ian Bateman (University of East Anglia), Alistair Munro (0000-0003-3918-8701, University of East Anglia), Bruce Rhodes (0000-0002-4600-7625, University of East Anglia), Chris Starmer (0000-0001-7705-0127, University of East Anglia), Robert Sugden (0000-0002-3401-3139, University of East Anglia) |
| Year | 1997 |
| Volume | 107 |
| Issue | 441 |
| Pages | 322-332 |
| Publication date | 1997-03-01 |
| Peer Reviewed | Yes |
| Open Access | Yes |
| Type | ARTICLE |
| Venue | The Economic Journal (JOURNAL) |
| Journal identifiers | ISSN: 0013-0133 • E-ISSN: 1468-0297 |
| Publisher | Oxford University Press (OUP) (PUBLISHER) |
| DOI | 10.1111/1468-0297.00160 |
| OpenAlex | W4245807635 |
| Language | EN |
The existence of part–whole bias has been hotly disputed in the recent contingent valuation literature. This paper reports on an experiment into part–whole bias. Employing vouchers for parts of a restaurant meal and using an incentive compatible procedure, valuations of the parts and of the whole were elicited. The sum of the valuations of the parts consistently exceeded that of the whole, providing evidence of the existence of part–whole bias in a context where traditional explanations would not have predicted it
Context (archaeology · Econometrics · Economics · Incentive · Microeconomics · Positive economics · Valuation (finance · Voucher · Accounting · Decision-Making and Behavioral Economics · Economic and Environmental Valuation · Housing Market and Economics
| Citation velocity | historical |
|---|---|
| Highly cited | No |