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Experimental methods and the welfare evaluation of policy lotteries

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  • Glenn W. Harrison

Abstract

Policies impose lotteries of outcomes on individuals, since we never know exactly what the effects of the policy will be. In order to evaluate alternative policies, we need to make assumptions about individual preferences, even before social welfare functions are applied. There are two broad ways in which experimental methods are used to evaluate policy. One is to use experiments to estimate individual preferences, valuations and beliefs and use those estimates as priors in policy evaluation. The other is to use randomisation to infer the effects of policy. The strengths, weaknesses and complementarities of these approaches are reviewed. , Oxford University Press.

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File URL: http://hdl.handle.net/10.1093/erae/jbr029
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Bibliographic Info

Article provided by Foundation for the European Review of Agricultural Economics in its journal European Review of Agricultural Economics.

Volume (Year): 38 (2011)
Issue (Month): 3 (August)
Pages: 335-360

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Handle: RePEc:oup:erevae:v:38:y:2011:i:3:p:335-360

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Cited by:
  1. Ihli, Hanna Julia & Chiputwa, Brian & Musshoff, Oliver, 2013. "Do Changing Probabilities or Payoffs in Lottery-Choice Experiments Matter? Evidence from Rural Uganda," Discussion Papers 158146, Georg-August-Universitaet Goettingen, GlobalFood, Department of Agricultural Economics and Rural Development.
  2. Charness, Gary & Viceisza, Angelino, 2011. "Comprehension and risk elicitation in the field: Evidence from rural Senegal," IFPRI discussion papers 1135, International Food Policy Research Institute (IFPRI).

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