Cameron, Trudy Ann

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https://hdl.handle.net/1794/3686

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Browsing Cameron, Trudy Ann by Subject "Microeconomics"

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    Eliciting Individual-Specific Discount Rates
    (University of Oregon, Dept. of Economics, 2003-01-01) Cameron, Trudy Ann; Gerdes, Geoffrey R.
    Longstanding debate over the appropriate social discount rate for public projects stems from our lack of knowledge about how individual discount rates vary across people and across choice contexts. Using a sample of roughly 15,000 choices by over 2000 individuals, we estimate utility theoretic models concerning private tradeoffs involving money over time that reveal individual specific discount rates. We control for experimentally differentiated choice scenarios, sociodemographic heterogeneity, and elicitation formats, and complex forms of heteroscedasticity. Statistically significant heterogeneity in discount rates is quantified for both an exponential discounting model and a competing hyperbolic model, but neither specification clearly dominates.
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    Individual Option Prices for Climate Change Mitigation
    (University of Oregon, Dept. of Economics, 2002-07-20) Cameron, Trudy Ann
    Willingness to pay for climate change mitigation depends on people's perceptions about just how bad things will get if nothing is done. Individual subjective distributions for future climate conditions are combined with stated preference discrete choice data over alternative climate policies to estimate individual option prices (the appropriate ex ante welfare measure in the face of uncertainty) for climate change mitigation. We find significant scope effects in the estimated option prices according to both expected conditions and degree of uncertainty.
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    Updating Subjective Risks in the Presence of Conflicting Information: An Application to Climate Change
    (University of Oregon, Dept. of Economics, 2001-07-14) Cameron, Trudy Ann
    Willingness to support public programs for risk management often depends on individual subjective risk perceptions in the face of uncertain science. As part of a larger study concerning climate change, we explore individual updated subjective risks as a function of individual priors, the nature of external information, and individual attributes. We examine several rival hypotheses about how subjective risks change in the face of new information (Bayesian updating, alarmist learning, and ambiguity aversion). The source and nature of external information, as well as its collective ambiguity, can have varying effects across the population, in terms of both expectations and uncertainty.