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
AbstractIn 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 InfoPaper provided by University of Gothenburg, Department of Economics in its series Working Papers in Economics with number 191.
Length: 21 pages
Date of creation: 19 Jan 2006
Date of revision:
Publication status: Published in Environmental and Resource Economics, 2008, pages 165-176.
Note: Published in Environmental and Resource Economics, 2008, Vol 40, pp. 165-176.
Contact details of provider:
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/
More information through EDIRC
Attribute levels; choice experiment; complexity; length; power outages; starting point;
Find related papers by JEL classification:
- C25 - Mathematical and Quantitative Methods - - Single Equation Models; Single Variables - - - Discrete Regression and Qualitative Choice Models; Discrete Regressors; Proportions
- C93 - Mathematical and Quantitative Methods - - Design of Experiments - - - Field Experiments
- D12 - Microeconomics - - Household Behavior - - - Consumer Economics: Empirical Analysis
- Q41 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Energy - - - Demand and Supply; Prices
This paper has been announced in the following NEP Reports:
- NEP-ALL-2006-01-24 (All new papers)
- NEP-DCM-2006-01-24 (Discrete Choice Models)
- NEP-EXP-2006-01-24 (Experimental Economics)
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
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