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Experimental Methods and Elicitation of Values

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Author Info
Harrison, Glen W.
Ronald M. Harstad
E. Elisabet Rutström

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Abstract

Experimental methods are currently being used extensively to elicit subjective values for commodities and projects. Three methodological problems are not addressed in this emerging literature. The first is the potential for laboratory responses to be censored by field opportunities; the second is the potential for subjective perceptions about field opportunities, and hence responses, to be affected by the instution used to elicit values; and third is the potential for some elicitation institutions to influence subjective perceptions of characteristics of the commodity or project being valued. All three problems result in potential loss of control over the value elicitation process.

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Publisher Info
Paper provided by University of Bonn, Germany in its series Discussion Paper Serie B with number 349.

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Length: pages
Date of creation: Nov 1995
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Handle: RePEc:bon:bonsfb:349

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Postal: Bonn Graduate School of Economics, University of Bonn, Adenauerallee 24 - 26, 53113 Bonn, Germany
Fax: +49 228 73 9221
Web page: http://www.bgse.uni-bonn.de/index.php?id=517

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  1. Stéphane Robin & Anne Rozan & Bernard Ruffieux, 2007. "Mesurer les préférences du consommateur pour orienter les décisions des pouvoirs publics : l’apport de la méthode expérimentale," Working Papers 0723, Groupe d'Analyse et de Théorie Economique (GATE), Centre national de la recherche scientifique (CNRS), Université Lyon 2, Ecole Normale Supérieure. [Downloadable!]
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  2. Lucy F. Ackert & Bryan K. Church & Gerald P. Dwyer, 2005. "When the shoe is on the other foot: experimental evidence on evaluation disparities," Working Paper 2005-17, Federal Reserve Bank of Atlanta. [Downloadable!]
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  3. John C. Bernard, 2005. "Evidence of affiliation of values in a repeated trial auction experiment," Applied Economics Letters, Taylor and Francis Journals, vol. 12(11), pages 687-691, September. [Downloadable!] (restricted)
  4. Glenn W. Harrison & Morten I. Lau & E. Elisabet Rutstrom, 2005. "Dynamic Consistency in Denmark: A Longitudinal Field Experiment," Artefactual Field Experiments 0051, The Field Experiments Website. [Downloadable!]
  5. Douglas D. Davis & Edward L. Millner, 2004. "Rebates, Matches, and Consumer Behavior," Working Papers 0401, VCU School of Business, Department of Economics. [Downloadable!]
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  6. Robin Cubitt & Daniel Read, 2007. "Can intertemporal choice experiments elicit time preferences for consumption?," Experimental Economics, Springer, vol. 10(4), pages 369-389, December. [Downloadable!] (restricted)
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  7. Glenn W. Harrison & Morten I. Lau & E. Elisabet Rutstrom, 2004. "Estimating Risk Attitudes in Denmark: A Field Experiment," Artefactual Field Experiments 0050, The Field Experiments Website. [Downloadable!]
  8. Steffen Andersen & Glenn Harrison & Morten Lau & E. Rutström, 2006. "Elicitation using multiple price list formats," Experimental Economics, Springer, vol. 9(4), pages 383-405, December. [Downloadable!] (restricted)
  9. Jay R. Corrigan, 2005. "Is the Experimental Auction a Dynamic Market?," Working Papers 0501, Kenyon College, Department of Economics. [Downloadable!]
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  10. 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!]
  11. Plott, Charles & Zeiler, Kathryn, 2005. "Asymmetries in exchange behavior incorrectly interpreted as evidence of prospect theory," Working Papers 1230, California Institute of Technology, Division of the Humanities and Social Sciences. [Downloadable!]
  12. C. Mónica Capra & Shireen Meer & Kelli Lanier, 2006. "The Effects of Induced Mood on Bidding in Random N-th Price Auctions," Emory Economics 0607, Department of Economics, Emory University (Atlanta). [Downloadable!]
  13. Todd Cherry & Peter Frykblom & Jason Shogren & John List & Melonie Sullivan, 2004. "Laboratory Testbeds and Non-Market Valuation: The Case of Bidding Behavior in a Second-Price Auction with an Outside Option," Environmental & Resource Economics, European Association of Environmental and Resource Economists, vol. 29(3), pages 285-294, November. [Downloadable!] (restricted)
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  14. Jay R. Corrigan & Matthew C. Rousu, 2008. "Testing Whether Field Auction Experiments are Demand Revealing in Practice," Working Papers 0804, Kenyon College, Department of Economics. [Downloadable!]
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  15. Ronald Harstad, 2000. "Dominant Strategy Adoption and Bidders' Experience with Pricing Rules," Experimental Economics, Springer, vol. 3(3), pages 261-280, December. [Downloadable!] (restricted)
  16. Bernard, John C. & Zhang, Chao & Gifford, Katie, 2006. "An Experimental Investigation of Consumer Willingness to Pay for Non-GM Foods When an Organic Option Is Present," Agricultural and Resource Economics Review, Northeastern Agricultural and Resource Economics Association, vol. 35(2), October. [Downloadable!]
  17. Jay R. Corrigan & Matthew C. Rousu, 2006. "The Effect of Initial Endowments in Experimental Auctions," Working Papers 0601, Kenyon College, Department of Economics. [Downloadable!]
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