Choice for goods under threat of destruction

Kent Messer () and Allison M. Borchers

Economics Letters, 2015, vol. 135, issue C, 137-140

Abstract: The choices related to preservation often involve consideration of the fate of the non-selected land. Yet, theory traditionally assumes that the fate of non-selected goods does not influence consumers’ preferences. Results from a framed field experiment involving the private choice of wine show that consumer preferences can dramatically shift for items under the threat of imminent destruction. This shift (upwards of 58% increase) may explain why conservation professionals, despite decades of scientific evidence, have failed to adopt cost-effective techniques that would yield large conservation benefits at no additional cost. Interestingly, economists exhibit similar preference shifts.

Keywords: Field experiment; Preference reversals; Cost effective conservation (search for similar items in EconPapers)
JEL-codes: C9 Q2 (search for similar items in EconPapers)
Date: 2015
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (3)

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Persistent link: https://EconPapers.repec.org/RePEc:eee:ecolet:v:135:y:2015:i:c:p:137-140

DOI: 10.1016/j.econlet.2015.07.026

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