Foregone and predicted futures: challenges of opportunity cost neglect and impact bias for public participation in policymaking

Deliberative democracy fosters greater involvement of the public in policymaking. However, psychological challenges involved in eliciting policy preferences receive little attention in this context. This study addresses the implications of opportunity cost neglect (OCN) and impact bias for policy preferences. Utilizing a survey experiment among residents of peripheral towns in Israel, we examine preferences regarding investment in rail...