IDEAS home Printed from https://ideas.repec.org/a/ags/aareaj/253476.html
   My bibliography  Save this article

Modelling Outcome-Related Risk in Choice Experiments

Author

Listed:
  • Glenk, Klaus
  • Colombo, Sergio

Abstract

No abstract is available for this item.

Suggested Citation

  • Glenk, Klaus & Colombo, Sergio, 2013. "Modelling Outcome-Related Risk in Choice Experiments," Australian Journal of Agricultural and Resource Economics, Australian Agricultural and Resource Economics Society, vol. 57(4), pages 1-20.
  • Handle: RePEc:ags:aareaj:253476
    DOI: 10.22004/ag.econ.253476
    as

    Download full text from publisher

    File URL: http://ageconsearch.umn.edu/record/253476/files/ajar12012.pdf
    Download Restriction: no

    Other versions of this item:

    References listed on IDEAS

    as
    1. Graham, Daniel A, 1992. "Public Expenditure under Uncertainty: The Net-Benefit Criteria," American Economic Review, American Economic Association, vol. 82(4), pages 822-846, September.
    2. Bennett, Jeffrey W. & van Bueren, Martin & Whitten, Stuart M., 2004. "Estimating society's willingness to pay to maintain viable rural communities," Australian Journal of Agricultural and Resource Economics, Australian Agricultural and Resource Economics Society, vol. 48(3), pages 1-26.
    3. Uri Gneezy & John A. List & George Wu, 2006. "The Uncertainty Effect: When a Risky Prospect is Valued Less than its Worst Possible Outcome," The Quarterly Journal of Economics, Oxford University Press, vol. 121(4), pages 1283-1309.
    4. Klaus Glenk & Sergio Colombo, 2011. "How Sure Can You Be? A Framework for Considering Delivery Uncertainty in Benefit Assessments Based on Stated Preference Methods," Journal of Agricultural Economics, Wiley Blackwell, vol. 62(1), pages 25-46, February.
    5. Kahneman, Daniel & Tversky, Amos, 1979. "Prospect Theory: An Analysis of Decision under Risk," Econometrica, Econometric Society, vol. 47(2), pages 263-291, March.
    6. Ondřej Rydval & Andreas Ortmann & Sasha Prokosheva & Ralph Hertwig, 2009. "How certain is the uncertainty effect?," Experimental Economics, Springer;Economic Science Association, vol. 12(4), pages 473-487, December.
    7. W. Michael Hanemann, 1984. "Welfare Evaluations in Contingent Valuation Experiments with Discrete Responses," American Journal of Agricultural Economics, Agricultural and Applied Economics Association, vol. 66(3), pages 332-341.
    8. Tversky, Amos & Kahneman, Daniel, 1992. "Advances in Prospect Theory: Cumulative Representation of Uncertainty," Journal of Risk and Uncertainty, Springer, vol. 5(4), pages 297-323, October.
    9. Mark L. Plummer, 1986. "Supply Uncertainty, Option Price, and Option Value: An Extension," Land Economics, University of Wisconsin Press, vol. 62(3), pages 313-318.
    10. Riddel, Mary, 2011. "Uncertainty and measurement error in welfare models for risk changes," Journal of Environmental Economics and Management, Elsevier, vol. 61(3), pages 341-354, May.
    11. Sonia Akter & Jeff Bennett & Michael B. Ward, 2013. "Climate change scepticism and public support for mitigation: evidence from an Australian choice experiment," Monash Economics Working Papers archive-47, Monash University, Department of Economics.
    12. Andre Palma & Moshe Ben-Akiva & David Brownstone & Charles Holt & Thierry Magnac & Daniel McFadden & Peter Moffatt & Nathalie Picard & Kenneth Train & Peter Wakker & Joan Walker, 2008. "Risk, uncertainty and discrete choice models," Marketing Letters, Springer, vol. 19(3), pages 269-285, December.
      • André de Palma & Moshe Ben-Akiva & David Brownstone & Charles Holt & Thierry Magnac & Daniel McFadden & Peter Moffatt & Nathalie Picard & Kenneth Train & Peter Wakker & Joan Walker, 2008. "Risk, Uncertainty and Discrete Choice Models," THEMA Working Papers 2008-02, THEMA (THéorie Economique, Modélisation et Applications), Université de Cergy-Pontoise.
    13. Cameron, Trudy Ann, 2005. "Individual option prices for climate change mitigation," Journal of Public Economics, Elsevier, vol. 89(2-3), pages 283-301, February.
    14. Gregory L. Poe & Michael P. Welsh & Patricia A. Champ, 1997. "Measuring the Difference in Mean Willingness to Pay When Dichotomous Choice Contingent Valuation Responses Are Not Independent," Land Economics, University of Wisconsin Press, vol. 73(2), pages 255-267.
    15. Krinsky, Itzhak & Robb, A Leslie, 1986. "On Approximating the Statistical Properties of Elasticities," The Review of Economics and Statistics, MIT Press, vol. 68(4), pages 715-719, November.
    16. Charles A. Holt & Susan K. Laury, 2002. "Risk Aversion and Incentive Effects," American Economic Review, American Economic Association, vol. 92(5), pages 1644-1655, December.
    17. A. Myrick Freeman III, 1985. "Supply Uncertainty, Option Price, and Option Value," Land Economics, University of Wisconsin Press, vol. 62(2), pages 176-181.
    18. Glenn Bush & Sergio Colombo & Nick Hanley, 2009. "Should all Choices Count? Using the Cut-Offs Approach to Edit Responses in a Choice Experiment," Environmental & Resource Economics, Springer;European Association of Environmental and Resource Economists, vol. 44(3), pages 397-414, November.
    19. Roberts, David C. & Boyer, Tracy A. & Lusk, Jayson L., 2008. "Preferences for environmental quality under uncertainty," Ecological Economics, Elsevier, vol. 66(4), pages 584-593, July.
    20. Richard C. Ready, 1993. "The Choice of a Welfare Measure under Uncertainty," American Journal of Agricultural Economics, Agricultural and Applied Economics Association, vol. 75(4), pages 896-904.
    21. Moshe Ben-Akiva & Joffre Swait, 1986. "The Akaike Likelihood Ratio Index," Transportation Science, INFORMS, vol. 20(2), pages 133-136, May.
    22. Chris Starmer, 2000. "Developments in Non-expected Utility Theory: The Hunt for a Descriptive Theory of Choice under Risk," Journal of Economic Literature, American Economic Association, vol. 38(2), pages 332-382, June.
    23. Dan Rigby & Francisco Alcon & Michael Burton, 2010. "Supply uncertainty and the economic value of irrigation water," European Review of Agricultural Economics, Foundation for the European Review of Agricultural Economics, vol. 37(1), pages 97-117, March.
    24. Daniel Burghart & Trudy Cameron & Geoffrey Gerdes, 2007. "Valuing publicly sponsored research projects: Risks, scenario adjustments, and inattention," Journal of Risk and Uncertainty, Springer, vol. 35(1), pages 77-105, August.
    25. Desvousges, William H. & Smith, V. Kerry & Fisher, Ann, 1987. "Option price estimates for water quality improvements: A contingent valuation study for the monongahela river," Journal of Environmental Economics and Management, Elsevier, vol. 14(3), pages 248-267, September.
    Full references (including those not matched with items on IDEAS)

    Citations

    Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
    as


    Cited by:

    1. John Rolfe & Jill Windle, 2015. "Do Respondents Adjust Their Expected Utility in the Presence of an Outcome Certainty Attribute in a Choice Experiment?," Environmental & Resource Economics, Springer;European Association of Environmental and Resource Economists, vol. 60(1), pages 125-142, January.
    2. Zack Dorner & Daniel A. Brent & Anke Leroux, 2019. "Preferences for Intrinsically Risky Attributes," Land Economics, University of Wisconsin Press, vol. 95(4), pages 494-514.
    3. Torres, Cati & Faccioli, Michela & Riera Font, Antoni, 2017. "Waiting or acting now? The effect on willingness-to-pay of delivering inherent uncertainty information in choice experiments," Ecological Economics, Elsevier, vol. 131(C), pages 231-240.
    4. Canales, Elizabeth & Bergtold, Jason S. & Williams, Jeffery & Peterson, Jeffrey, 2015. "Estimating farmers’ risk attitudes and risk premiums for the adoption of conservation practices under different contractual arrangements: A stated choice experiment," 2015 AAEA & WAEA Joint Annual Meeting, July 26-28, San Francisco, California 205640, Agricultural and Applied Economics Association.
    5. Li, Zheng & Hensher, David A. & Rose, John M., 2010. "Willingness to pay for travel time reliability in passenger transport: A review and some new empirical evidence," Transportation Research Part E: Logistics and Transportation Review, Elsevier, vol. 46(3), pages 384-403, May.
    6. Dorner, Zach & Brent, Daniel A. & Leroux, Anke, 2016. "Eliciting Risk Preferences for Intrinsic Attributes," 2016 Annual Meeting, July 31-August 2, Boston, Massachusetts 236644, Agricultural and Applied Economics Association.
    7. Reithmayer, Corrina & Danne, Michael & Mußhoff, Oliver, 2019. "Look at that! – The effect pictures have on consumer preferences for in ovo gender determination as an alternative to culling male chicks," Department of Agricultural and Rural Development (DARE) Discussion Papers 298419, Georg-August-Universitaet Goettingen, Department of Agricultural Economics and Rural Development (DARE).
    8. Chèze, Benoît & David, Maia & Martinet, Vincent, 2020. "Understanding farmers' reluctance to reduce pesticide use: A choice experiment," Ecological Economics, Elsevier, vol. 167(C).
    9. Martin-Ortega, Julia & Allott, Timothy E.H. & Glenk, Klaus & Schaafsma, Marije, 2014. "Valuing water quality improvements from peatland restoration: Evidence and challenges," Ecosystem Services, Elsevier, vol. 9(C), pages 34-43.
    10. Min Song & Lynn Huntsinger & Manman Han, 2018. "How does the Ecological Well-Being of Urban and Rural Residents Change with Rural-Urban Land Conversion? The Case of Hubei, China," Sustainability, MDPI, Open Access Journal, vol. 10(2), pages 1-22, February.
    11. Monica Novackova & Richard S.J. Tol, 2018. "Climate Change Awareness and Willingness to Pay for its Mitigation: Evidence from the UK," Working Paper Series 0318, Department of Economics, University of Sussex Business School.
    12. Williams, Galina & Rolfe, John, 2017. "Willingness to pay for emissions reduction: Application of choice modeling under uncertainty and different management options," Energy Economics, Elsevier, vol. 62(C), pages 302-311.
    13. Makriyannis, Christos & Johnston, Robert, 2016. "Welfare Analysis for Climate Risk Reductions: Are Current Treatments of Outcome Uncertainty Sufficient?," 2016 Annual Meeting, July 31-August 2, Boston, Massachusetts 235532, Agricultural and Applied Economics Association.
    14. Bujosa, Angel & Torres, Cati & Riera, Antoni, 2018. "Framing Decisions in Uncertain Scenarios: An Analysis of Tourist Preferences in the Face of Global Warming," Ecological Economics, Elsevier, vol. 148(C), pages 36-42.
    15. Dadhi Adhikari & Jennifer A. Thacher & Janie M. Chermak & Robert P. Berrens, 2017. "Linking Forest to Faucets in a Distant Municipal Area: Public Support for Forest Restoration and Water Security in Albuquerque, New Mexico," Water Economics and Policy (WEP), World Scientific Publishing Co. Pte. Ltd., vol. 3(01), pages 1-34, January.
    16. Markus Glatt & Roy Brouwer & Ivana Logar, 2019. "Combining Risk Attitudes in a Lottery Game and Flood Risk Protection Decisions in a Discrete Choice Experiment," Environmental & Resource Economics, Springer;European Association of Environmental and Resource Economists, vol. 74(4), pages 1533-1562, December.
    17. Villanueva, Anastasio J. & Glenk, Klaus & Rodriguez-Entrena, M., 2016. "Serial non-participation and ecosystem services providers’ preferences towards incentive-based schemes," 90th Annual Conference, April 4-6, 2016, Warwick University, Coventry, UK 236348, Agricultural Economics Society.

    More about this item

    Keywords

    Agribusiness; Agricultural and Food Policy;

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:ags:aareaj:253476. See general information about how to correct material in RePEc.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (AgEcon Search). General contact details of provider: http://edirc.repec.org/data/aaresea.html .

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service hosted by the Research Division of the Federal Reserve Bank of St. Louis . RePEc uses bibliographic data supplied by the respective publishers.