Working Papers

The WNE Working Papers series has been published by the Faculty of Economic Sciences at the University of Warsaw since 2008.

The WNE Working Papers series provides a fast, open channel for disseminating research conducted at the Faculty of Economic Sciences, University of Warsaw. The papers hosted here are working versions (pre-prints) and may evolve as authors refine their analyses, incorporate feedback, or progress through formal peer-review. What you read is the current version released by the authors, timestamped and assigned DOI/ISSN identifiers to ensure precise citation and version tracking. Copyright remains with the authors, who may, at any time, upload a revised file or add a note directing readers to a later, peer-reviewed publication.

The Working Papers series accepts articles by research employees of the Faculty and publications from conferences organised at the Faculty of Economic Sciences at the University of Warsaw. Articles should be original research papers which have not been previously published, on the subject of economics.

Please send your paper by e-mail: P7u.+qJFfC!A1t#Ws[XU|Rm2=~l]#[H%htp`.3H0e0!1}FYdNM#4R'GoY 

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(1) the main text without the title of the article and the authors (DOC/DOCX file) and

(2) the title page including: the title of the paper, the authors and their affiliation (DOC/DOCX file).

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Number of Results 2

WP(19/2024)455. The Effects of Emotions on Stated Preferences for Environmental Change: a re-examination

Authors: Yilong Xu, Czajkowski Mikołaj, Nick Hanley, Leonhard Lades, Charles N. Noussair, Steven Tucker
A large literature in behavioral science suggests that people’s emotional condition can have an impact on their choices. We consider how people’s emotions affect their stated preferences and willingness to pay for changes in environmental…

WP455. The Effects of Emotions on Stated Preferences for Environmental Change: a re-examination

A large literature in behavioral science suggests that people’s emotional condition can have an impact on their choices. We consider how people’s emotions affect their stated preferences and willingness to pay for changes in environmental quality, focusing on the effects of incidental emotions. We use videos to induce emotional states and test the replicability of the results reported in Hanley et al. (2017). Additionally, we employ Face Reader software to verify whether the intended emotional states were successfully induced in our experimental treatments. We find that our treatments succeed in implementing the predicted emotional condition in terms of self-reported emotions, but had a variable effect on measured (estimated) emotional states. We replicate the key result from Hanley et al. (2017): induced emotional state has no significant effect on stated preference estimates or on willingness to pay for environmental quality changes. Moreover, we confirm that, irrespective of the treatment assignment or emotional state - be it self-reported or measured - we observe no significant effect of emotion on stated preferences. We conclude that stated preference estimates for environmental change are unaffected by changes in incidental emotions, and that preference estimates are robust to the emotional state of the responder.


DOI: https://doi.org/10.33138/2957-0506.2024.19.455
Yilong Xu, Czajkowski Mikołaj, Nick Hanley, Leonhard Lades, Charles N. Noussair, Steven Tucker
behavioural economics choice experiments emotions stated choice experimental economics

WP(3/2023)410. How Well Can Experts Predict Farmers’ Choices in Risky Gambles?

Authors: Schaak Henning, Rommel Jens, Sagebiel Julian, Barreiro-Hurlé Jesús, Bougherara Douadia, Cembalo Luigi, Cerjak Marija, Čop Tajana, Czajkowski Mikołaj, Espinosa-Goded María, Höhler Julia, Lagerkvist Carl-Johan, Rodriguez-Entrena Macario, Tensi Annika, Thoyer Sophie, Tomić Maksan Marina, Vecchio Riccardo, Zagórska Katarzyna
Risk is ubiquitous in agriculture and a core interest of agricultural economists. While farmers’ risk preferences are well studied, there is limited knowledge on the perspectives of other stakeholders on farmers’ risk preferences. We addr…

WP410. How Well Can Experts Predict Farmers’ Choices in Risky Gambles?

Risk is ubiquitous in agriculture and a core interest of agricultural economists. While farmers’ risk preferences are well studied, there is limited knowledge on the perspectives of other stakeholders on farmers’ risk preferences. We address this gap by eliciting predictions for a multiple-price-list task from 561 students, farm advisors, and experts from Italy, Poland, Croatia, Spain, France, Sweden, and the Netherlands. First, we investigate whether the risk preferences of farmers from different European production systems differ in terms of predictability for the experts. Second, we compare the predictions of different groups of experts, as well as their accuracy. Third, we evaluate whether the accuracy of predictions can be improved by changing incentive mechanisms. Overall, we find substantial variation in individual predictions. Yet, average predictions are close to the averages of the observed responses of farmers. We find that an international group of researchers in experimental economics provides more accurate predictions than farm advisors and other experts or students of agriculture. Differences in predictions by production systems are small. Incentivizing predictions by either a tournament scheme (the best prediction receives a reward) or high accuracy (randomly selected participants are paid depending on the quality of their prediction) do not strongly affect the accuracy, but may slightly reduce noise in the predictions.


Schaak Henning, Rommel Jens, Sagebiel Julian, Barreiro-Hurlé Jesús, Bougherara Douadia, Cembalo Luigi, Cerjak Marija, Čop Tajana, Czajkowski Mikołaj, Espinosa-Goded María, Höhler Julia, Lagerkvist Carl-Johan, Rodriguez-Entrena Macario, Tensi Annika, Thoyer Sophie, Tomić Maksan Marina, Vecchio Riccardo, Zagórska Katarzyna
Risk attitudes Expert predictions Expert forecasts Multiple prices lists Meta-science Experimental economics
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