Measuring the willingness to pay to avoid guilt: estimation using equilibrium and stated belief models
避免内疚的支付意愿：均衡信念与陈述信念模型估计
Abstract We estimate structural models of guilt aversion to measure the population level of willingness to pay (WTP) to avoid feeling guilt by letting down another player. We compare estimates of WTP under the assumption that higher‐order beliefs are in equilibrium (i.e., consistent with the choice distribution) with models estimated using stated beliefs which relax the equilibrium requirement. We estimate WTP in the latter case by allowing stated beliefs to be correlated…