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Prices versus Standards and Firm Behavior: Evidence from an Artefactual Field Experiment


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Title: Prices versus Standards and Firm Behavior: Evidence from an Artefactual Field Experiment
Authors: Hennlock, Magnus
Löfgren, Åsa
Wollbrant, Conny
Issue Date: Jan-2017
Extent: 49
Publication type: report
Organization: Dept. of Economics, University of Gothenburg
Series/Report no.: Working Papers in Economics
687
Keywords: artefactual field experiment
bounded rationality
attentional bias
investment inefficiencies
firm
regulation
policy
Abstract: We conduct an artefactual field experiment in which 164 managers and senior advisors recruited from Swedish industry were presented with a task of maximizing net revenue from abatement investments under three different but equally stringent environmental policy regimes. We find that investment decisions are strongly influenced by type of policy instrument. Economic instruments and performance standards cause different attentional and judgment biases that are inconsistent with standard economic ... more
ISSN: 1403-2465
Description: JEL: C93, H32, L20
URI: http://hdl.handle.net/2077/51395
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