Information Effects in Contingent Markets
从概念上提出关于条件市场中信息效应的可检验假设，并通过实验市场检验三种信息类型对出价的影响，发现单独作用不显著但联合作用显著提高出价，支持并非所有信息效应都是偏差的观点。
Abstract Information “bias” in contingent markets is poorly understood. In this paper, testable hypotheses concerning beneficial contingent market information effects are developed conceptually. Perspective information and relative expenditure information were expected to increase comprehension and increase bids. Provision cost information was expected to counteract free‐riding behavior and also increase bids. Hypothesis tests using experimental markets suggested that each information type induced small, statistically insignificant bid increases. However, the combined effect of the three information types induced a desirable, statistically significant increase in bids. This result supports the contention that not all contingent market information effects are “biases.”