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.

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Number of Results 7

WP(4/2026)498. Behavioral Biases in Stated Preference Valuation of Mortality Risk Reductions: Cost Vector, Anchoring, and Scope Effects

Authors: Zawadzki Wojciech, Andersson Henrik, Czajkowski Mikołaj, Hole Arne Risa
This study investigates how behavioral biases influence stated preference valuation of mortality risk reductions, commonly summarized as the value of a statistical life (VSL). Using a discrete choice experiment (DCE) combined with a contingent valuat…

WP498. Behavioral Biases in Stated Preference Valuation of Mortality Risk Reductions: Cost Vector, Anchoring, and Scope Effects

This study investigates how behavioral biases influence stated preference valuation of mortality risk reductions, commonly summarized as the value of a statistical life (VSL). Using a discrete choice experiment (DCE) combined with a contingent valuation double-bounded dichotomous choice and an open-ended follow-up, we elicit individuals’ willingness to pay (WTP) for cardiovascular mortality risk reductions. In a randomized design, we varied the cost attribute across three cost range treatments and manipulated information disclosure and feedback to examine three behavioral phenomena: cost vector effects (whether the range of costs presented affects WTP), scope insensitivity (whether WTP scales appropriately with the magnitude of the risk reduction), and anchoring (whether initial cost cues affect subsequent responses). Our results show that mean VSL estimates can vary by up to ~25% between cost treatments. Furthermore, WTP responses exhibit partial scope insensitivity – larger risk reductions do not proportionally increase WTP – indicating a deviation from theoretical expectations. Importantly, we find no strong evidence of anchoring: neither revealing all attribute levels upfront, nor starting with extreme cost levels, nor providing feedback on quiz questions significantly affected respondents’ choices or WTP. Our findings underscore the need for careful survey design. Even if VSL distributions remain statistically similar across cost frames, substantial shifts in mean magnitudes could be consequential for policy. We call for standardized guidelines on cost attribute selection and survey protocols to mitigate bias, ensuring that stated preference methods yield reliable welfare estimates for health policy decisions.


DOI: https://doi.org/10.33138/2957-0506.2026.4.498
Zawadzki Wojciech, Andersson Henrik, Czajkowski Mikołaj, Hole Arne Risa
value of statistical life (VSL) stated preference (SP) contingent valuation (CV) behavioral biases anchoring effect scope insensitivity discrete choice experiment (DCE) willingness to pay (WTP) mortality risk reduction cardiovascular diseases

WP(5/2022)381. Do numerical probabilities promote informed stated preference responses under inherent uncertainty? Insight from a coastal adaptation choice experiment

Authors: Makriyannis Christos, Johnston Robert J., Zawojska Ewa
Inherent outcome uncertainty within stated preference surveys is invariant across valuation scenarios. It has received relatively little attention in the environmental stated preference literature. Specifically, it is unknown whether percentage proba…

WP381. Do numerical probabilities promote informed stated preference responses under inherent uncertainty? Insight from a coastal adaptation choice experiment

Inherent outcome uncertainty within stated preference surveys is invariant across valuation scenarios. It has received relatively little attention in the environmental stated preference literature. Specifically, it is unknown whether percentage probabilities—a ubiquitous means of communicating uncertainty in questionnaires—are an effective risk communication tool. This article systematically evaluates two treatments in a discrete choice experiment survey related to coastal climate change adaptation in Connecticut, USA: one provides only raw frequencies as a risk communication tool, while the other provides implied numerical probabilities in addition to the same raw frequencies. Results from a mixed logit model and from a latent class model that controls for sociodemographic influences show that the use of percentage probabilities to communicate inherent uncertainty has no additional effect on average welfare estimates or the choice behavior of respondents. Our findings suggest that percentage probabilities may not be an impactful way to communicate inherent uncertainty in environmental stated preference questionnaires.


Makriyannis Christos, Johnston Robert J., Zawojska Ewa
flood adaptation inherent uncertainty discrete choice experiment stated preference mixed logit risk communication WTP-space

WP(20/2021)368. Does the framing affect the WTP for consumption goods in realistic shopping settings?

Authors: Brzozowicz Magdalena
In this study, I examined the influence of the framing effect on the valuation of consumption goods in realistic shopping settings. In four field experiments comprising 1602 shopping center customers as participants, I elicited willingness to pay (WT…

WP368. Does the framing affect the WTP for consumption goods in realistic shopping settings?

In this study, I examined the influence of the framing effect on the valuation of consumption goods in realistic shopping settings. In four field experiments comprising 1602 shopping center customers as participants, I elicited willingness to pay (WTP) for consumer products by manipulating framing conditions (positive vs. negative framing). Although my four experiments involved two different types of products (durable vs. fast-moving), two different types of framing (attribute vs. goal) and two different valuation procedures (hypothetical vs. consequential), their results were remarkably consistent. I observed that the framing effect had no impact on WTP for the presented products. In the light of both this study and the existing literature, I suspect that the framing effect is more likely to appear in solely hypothetical judgement and assessment tasks than in the context of eliciting consumer WTP.


Brzozowicz Magdalena
framing effect field experiment willingness to pay WTP

WP(40/2020)346. Honey, Mugs and Caricatures: anchors on prices of consumer goods only hold hypothetically

Authors: Brzozowicz Magdalena, Krawczyk Michał
We elicit willingness to pay for different types of consumption goods, systematically manipulating irrelevant anchors (high vs. low) and incentives to provide true valuations (hypothetical vs. real). On top of a strong hypothetical bias, we find that…

WP346. Honey, Mugs and Caricatures: anchors on prices of consumer goods only hold hypothetically

We elicit willingness to pay for different types of consumption goods, systematically manipulating irrelevant anchors (high vs. low) and incentives to provide true valuations (hypothetical vs. real). On top of a strong hypothetical bias, we find that anchors only make a substantial, significant difference in the case of hypothetical data, the first experiments to directly document such an interaction. This finding suggests that hypothetical market research methods may deliver lower quality data. Moreover, it contributes to the discussion examining the mechanism underlying the anchoring effect, suggesting it could partly be caused by insufficient conscious efforts to drift away from the anchor.


Brzozowicz Magdalena, Krawczyk Michał
anchoring effect hypothetical bias WTP experiment

WP(24/2017)253. Do anchors hold for real? Anchoring effect and hypothetical bias in declared WTP

Authors: Brzozowicz Magdalena, Krawczyk Michał, Kusztelak Przemysław
In two field experiments the authors elicit willingness to pay for a mascara, systematically manipulating incentives to provide the true valuation (hypothetical vs. real) and anchors (high vs. low or high vs. none). Contrary to the key hypothesis, th…

WP253. Do anchors hold for real? Anchoring effect and hypothetical bias in declared WTP

In two field experiments the authors elicit willingness to pay for a mascara, systematically manipulating incentives to provide the true valuation (hypothetical vs. real) and anchors (high vs. low or high vs. none). Contrary to the key hypothesis, they find no interaction between the two effects: the anchoring effect is not attenuated when decisions actually matter. This finding speaks to validity of hypothetical market research methods and against the use of anchors to reduce hypothetical bias. It also contributes to the discussion of the mechanism underlying anchoring effect, suggesting it is not caused by insufficient conscious effort to drift away from the anchor.


DOI: https://doi.org/10.26405/WP/WNE/2017/253/024
Brzozowicz Magdalena, Krawczyk Michał, Kusztelak Przemysław
anchoring effect hypothetical bias WTP experiment

WP(20/2013)105. The role of altruism in non-market valuation. An application to the Białowieża Forest.

Authors: Bartczak Anna
The purpose of this study is to investigate the impact of an individual trait of altruism on social preferences and hence willingness to pay (WTP) for changes in forest management strategies in the Białowieża Forest in Poland. We used data from a dis…

WP105. The role of altruism in non-market valuation. An application to the Białowieża Forest.

The purpose of this study is to investigate the impact of an individual trait of altruism on social preferences and hence willingness to pay (WTP) for changes in forest management strategies in the Białowieża Forest in Poland. We used data from a discrete choice experiment (CE), where attributes described changes in the quality of the forest and recreation and were framed to capture the respondents' non-use and use motivations. Patterns in the individual differences in altruistic behavior were elicited using a self-reported questionnaire developed by Rushton et al. (1981) concerning the frequency of an engagement in different altruistic behaviors. The application of the choice experiment technique allowed for the disentangling of the effect of a trait of altruism with regard to different attributes and their levels. The parameterization we employed in the survey was a WTP-space model (Train and Weeks 2005). Results show that the level of altruism has a significant effect on the valuation of restrictions in the forest visitor numbers; however, the altruism influence on the existence and bequest value from improving nature preservation depends on the current status of the forest.


Bartczak Anna
altruism Choice Experiment forest naturalness number of visitors use and non-use value WTP-space model

WP(8/2010)31. Irregular behaviour in stating preferences for nature protection. A Choice Experiment in Belarus

Authors: Giergiczny Marek, Valasiuk Sviataslau, Żylicz Tomasz, Riera Pere
Using choice experiment, this paper investigates how Belarusian citizens value planned Zvanets mire protection programmes. Two approaches are used to analyze ignored attributes: a debriefing question, and estimating parameters at the individual level…

WP31. Irregular behaviour in stating preferences for nature protection. A Choice Experiment in Belarus

Using choice experiment, this paper investigates how Belarusian citizens value planned Zvanets mire protection programmes. Two approaches are used to analyze ignored attributes: a debriefing question, and estimating parameters at the individual level. We have found inconsistencies between people's declarations on ignoring certain attributes in the follow-up questions and the results of modelling at the individual level. These inconsistencies lead to statistically significant differences in WTP estimates obtained.


Giergiczny Marek, Valasiuk Sviataslau, Żylicz Tomasz, Riera Pere
willingness to pay (WTP) choice experiment (CE) random parameter logit (RPL) model lexicographic preferences nature protection wetlands
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