Testing Distributional Dependence in the Becker-DeGroot-Marschak ...

Panel B. Round 2 WTP (Half of the subjects faced a new distribution with a spike at $5, #5.)
Frequency
18
16
14
12
10
8
6
4
2
0
Frequency
0
0.5
1
1.5
2
2.5
3
3.5
4
4.5
5
5.5
6
6.5
7
7.5
8
8.5
9
9.5
10
10.5
11
11.5
12
12.5
13
13.5
14
14.5
15
WTP (in $)
Panel C. Willingness to Pay in Round 2, by Level of Detail of Instructions
9
8
7
6
5
4
3
2
1
0
0
1
2
3
4
5
6
7
8
9
WTP (in $)
10
43
11
12
Triangular repeated in Round 2
Spiked at $5 in Round 2
Triangular repeated, Basic instructions
Triangular repeated, Detailed instructions
Spiked at $5, Basic instructions
Spiked at $5, Detailed instructions
13
14
15