The money those people would pay to avoid the loss of liberty, had they the option.
That’s a valid measure, but it would require a fairly complicated study to actually get a value for it.
And it’s complicated by loss aversion.
The money those people would pay to avoid the loss of liberty, had they the option.
That’s a valid measure, but it would require a fairly complicated study to actually get a value for it.
And it’s complicated by loss aversion.