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How much is too much? - An investigation of the effect of the number of choice sets, starting point and the choice of bid vectors in choice experiments

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Author Info

  • Carlsson, Fredrik

    ()
    (Department of Economics, School of Business, Economics and Law, Göteborg University)

  • Martinsson, Peter

    ()
    (Department of Economics, School of Business, Economics and Law, Göteborg University)

Abstract

In a split sample design, we examine how the number of choice sets, design of the first choice set (starting point), and the choice of attribute levels in the cost attribute affect the precision in the elicited preferences in otherwise completely identical choice experiment surveys. These issues are investigated for Swedish households’ marginal willingness to pay to reduce power outages. Our results indicate that neither the number´of choice sets nor the starting point choice set has a significant impact on estimated marginal willingness to pay, while the effect was significant for theadditive scaling of the cost vector. At the end of the paper we discuss the implications of our results on future developments and applications of choice experiments.

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Bibliographic Info

Paper provided by University of Gothenburg, Department of Economics in its series Working Papers in Economics with number 191.

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Length: 21 pages
Date of creation: 19 Jan 2006
Date of revision:
Publication status: Published in Environmental and Resource Economics, 2008, pages 165-176.
Handle: RePEc:hhs:gunwpe:0191

Note: Published in Environmental and Resource Economics, 2008, Vol 40, pp. 165-176.
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Postal: Department of Economics, School of Business, Economics and Law, University of Gothenburg, Box 640, SE 405 30 GÖTEBORG, Sweden
Phone: 031-773 10 00
Web page: http://www.handels.gu.se/econ/
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Keywords: Attribute levels; choice experiment; complexity; length; power outages; starting point;

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References

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  1. Swait, Joffre & Adamowicz, Wiktor, 2001. " The Influence of Task Complexity on Consumer Choice: A Latent Class Model of Decision Strategy Switching," Journal of Consumer Research, University of Chicago Press, vol. 28(1), pages 135-48, June.
  2. Fredrik Carlsson & Peter Martinsson, 2003. "Design techniques for stated preference methods in health economics," Health Economics, John Wiley & Sons, Ltd., vol. 12(4), pages 281-294.
  3. Trudy Ann Cameron & John Quiggin, 1992. "Estimation Using Contingent Valuation Data From a "Dichotomous Choice with Follow-Up" Questionnaire," UCLA Economics Working Papers 653, UCLA Department of Economics.
  4. Hensher, David A. & Stopher, Peter R. & Louviere, Jordan J., 2001. "An exploratory analysis of the effect of numbers of choice sets in designed choice experiments: an airline choice application," Journal of Air Transport Management, Elsevier, vol. 7(6), pages 373-379.
  5. Herriges, Joseph A. & Shogren, Jason F., 1996. "Starting Point Bias in Dichotomous Choice Valuation with Follow-Up Questioning," Staff General Research Papers 1501, Iowa State University, Department of Economics.
  6. Ajzen, Icek & Brown, Thomas C. & Rosenthal, Lori H., 1996. "Information Bias in Contingent Valuation: Effects of Personal Relevance, Quality of Information, and Motivational Orientation," Journal of Environmental Economics and Management, Elsevier, vol. 30(1), pages 43-57, January.
  7. Alberini Anna, 1995. "Efficiency vs Bias of Willingness-to-Pay Estimates: Bivariate and Interval-Data Models," Journal of Environmental Economics and Management, Elsevier, vol. 29(2), pages 169-180, September.
  8. Kahneman, Daniel & Ritov, Ilana & Schkade, David A, 1999. "Economic Preferences or Attitude Expressions?: An Analysis of Dollar Responses to Public Issues," Journal of Risk and Uncertainty, Springer, vol. 19(1-3), pages 203-35, December.
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Cited by:
  1. Ben McNair & David Hensher & Jeff Bennett, 2012. "Modelling Heterogeneity in Response Behaviour Towards a Sequence of Discrete Choice Questions: A Probabilistic Decision Process Model," Environmental & Resource Economics, European Association of Environmental and Resource Economists, vol. 51(4), pages 599-616, April.
  2. McNair, Ben J. & Hensher, David A. & Bennett, Jeff, 2010. "Modelling heterogeneity in response behaviour towards a sequence of discrete choice questions: a latent class approach," MPRA Paper 23427, University Library of Munich, Germany.

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