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Are Choice Experiments Incentive Compatible? A Test with Quality Differentiated Beef Steaks

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Author Info
Jayson L. Lusk
Ted C. Schroeder

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Abstract

This study compares hypothetical and nonhypothetical responses to choice experiment questions. We test for hypothetical bias in a choice experiment involving beef ribeye steaks with differing quality attributes. In general, hypothetical responses predicted higher probabilities of purchasing beef steaks than nonhypothetical responses. Thus, hypothetical choices overestimate total willingness-to-pay for beef steaks. However, marginal willingness-to-pay for a change in steak quality is, in general, not statistically different across hypothetical and actual payment settings. Copyright 2004 American Agricultural Economics Association.

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Publisher Info
Article provided by American Agricultural Economics Association in its journal American Journal of Agricultural Economics.

Volume (Year): 86 (2004)
Issue (Month): 2 (05)
Pages: 467-482
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Handle: RePEc:bla:ajagec:v:86:y:2004:i:2:p:467-482

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  2. Ehmke, Mariah Tanner & Lusk, Jayson & Tyner, Wallace, 2006. "The Relative Importance of Preferences for Country-of-Origin in China, France, Niger and the United States," 2006 Annual Meeting, August 12-18, 2006, Queensland, Australia 25408, International Association of Agricultural Economists. [Downloadable!]
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  6. Carlsson, Fredrik & Frykblom, Peter & Lagerkvist, Carl-Johan, 2004. "Using Cheap-Talk as a Test of Validity in Choice Experiments," Working Papers in Economics 128, Göteborg University, Department of Economics. [Downloadable!]
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  7. Steine, Gro & Alfnes, Frode & Rora, Mia Bencze, 2005. "The Effect of Color on Consumer WTP for Farmed Salmon," Marine Resource Economics, Marine Resources Foundation, vol. 20(2). [Downloadable!]
  8. Darren Hudson & Karina Gallardo & Terry Hanson, 2005. "Hypothetical (Non)Bias In Choice Experiments: Evidence From Freshwater Prawns," Experimental 0503003, EconWPA. [Downloadable!]
  9. Carlsson, Fredrik & Frykblom, Peter & Lagerkvist, Carl-Johan, 2004. "Preferences With and Without Prices - does the price attribute affect behavior in stated preference surveys?," Working Papers in Economics 150, Göteborg University, Department of Economics. [Downloadable!]
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  11. Caparros, Alejandro & Oviedo, Jose L. & Campos, Pablo, 0. "AJAE Appendix: Would You Choose Your Preferred Option? Comparing Choice and Recoded Ranking Experiments," American Journal of Agricultural Economics Appendices, Agricultural and Applied Economics Association. [Downloadable!]
  12. Carlsson, Fredrik & Frykblom, Peter & Lagerkvist, Carl Johan, 2004. "Consumer willingness to pay for farm animal welfare - transportation of farm animals to slaughter versus the use of mobile abattoirs," Working Papers in Economics 149, Göteborg University, Department of Economics. [Downloadable!]
  13. Hiselius, Lena Winslott, 2005. "Preferences regarding road transports of hazardous materials using choice experiments - any sign of biases?," Working Papers 2005:30, Lund University, Department of Economics. [Downloadable!]
  14. Xue, Hong & Mainville, Denise & You, Wen & Nayga, Rodolfo M. Jr., 2009. "Nutrition Knowledge, Sensory Characteristics and Consumers’ Willingness to Pay for Pasture-Fed Beef," 2009 Annual Meeting, July 26-28, 2009, Milwaukee, Wisconsin 49277, Agricultural and Applied Economics Association. [Downloadable!]
  15. repec:bep:eapadv:v:6:y:2006:i:1:p:1539-1539 is not listed on IDEAS
  16. Carlsson, Fredrik & Frykblom, Peter & Lagerkvist, Carl-Johan, 2003. "Farm Animal Welfare - testing for market failure," Working Papers in Economics 119, Göteborg University, Department of Economics. [Downloadable!]
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  17. Svensson, Mikael, 2006. "The Value of a Statistical Life in Sweden Estimates from Two Studies using the "Certainty Approach" Calibration," Working Papers 2006:6, Örebro University, Swedish Business School, revised 25 Jul 2007. [Downloadable!]
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