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Shelby Flores
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I know that people have already touched on the topic of framing, so I will try to avoid discussing that here. But I also think framing is such an interesting topic because it does affect our perception and thus our decision making. Additionally, I know this was stated above, despite all the theory we’ve focused on in our numerous Econ classes at W&L, it still makes sense to us that WTA>WTP, an idea which is yet again proved in this paper. Connecting these two topics together, I think WTA>WTP as a matter of proactiveness v. reactiveness. People are willing to accept more because the “problem” or event has already happened. I’m primarily thinking of it in terms of saving a koala bear through WWF or preventing coral reef degradation as a result of global warming. There’s a chance that maybe some of the koala bears and corals will survive the problem, so we aren’t willing to pay as much to prevent their ruin or extinction. However, once they’re gone, they’re gone—which may have a trickle-down effect elsewhere in the environment—but at that point we have to accept it, though we may have regrets about letting it happen (not being willing to pay more to prevent their ruin/extinction) in the future. As mentioned above framing certainly comes into play in the trolley car examples in the paper, which I also thought were extremely interesting. The results of the “trolley problems” are different if one frames it as “you are killing less people” rather than “you are killing a person.” Technically, at least one person is being killed in both scenarios which is equally bad, so theoretically there shouldn’t be a difference in a person’s choice to hit the switch or not in both scenarios.
Toggle Commented Nov 20, 2014 on Econ 398 Papers at Jolly Green General
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Nov 3, 2014