In search of a preferred preference elicitation method: A test of the internal consistency of choice and matching tasks
AbstractThe numerous reports on preference reversals in preference elicitations pose a great challenge to empirical economics. Many studies have found that different procedures may generate substantially different preferences. However, little is known about whether one procedure is more susceptible to preference reversals than another. Therefore, taking the preference reversals as a robust behavioral pattern, guidelines are called for to provide directions regarding a preferred preference elicitation task. This paper puts forward a new test of the internal consistency of choice and matching tasks, based on “internal preference reversals”. We replicate the preference reversal phenomenon and find a significant higher consistency within choice tasks than within matching tasks.
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Bibliographic InfoPaper provided by University Library of Munich, Germany in its series MPRA Paper with number 36100.
Date of creation: 20 Jan 2012
Date of revision:
preference reversal; internal consistency; scale compatibility; loss aversion; choice; matching;
Other versions of this item:
- Attema, Arthur E. & Brouwer, Werner B.F., 2013. "In search of a preferred preference elicitation method: A test of the internal consistency of choice and matching tasks," Journal of Economic Psychology, Elsevier, vol. 39(C), pages 126-140.
- C91 - Mathematical and Quantitative Methods - - Design of Experiments - - - Laboratory, Individual Behavior
- B41 - Schools of Economic Thought and Methodology - - Economic Methodology - - - Economic Methodology
- I10 - Health, Education, and Welfare - - Health - - - General
This paper has been announced in the following NEP Reports:
- NEP-ALL-2012-02-01 (All new papers)
- NEP-CBE-2012-02-01 (Cognitive & Behavioural Economics)
- NEP-DCM-2012-02-01 (Discrete Choice Models)
- NEP-EVO-2012-02-01 (Evolutionary Economics)
- NEP-EXP-2012-02-01 (Experimental Economics)
- NEP-UPT-2012-02-01 (Utility Models & Prospect Theory)
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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