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Elicitation bias in Multiple Price Lists: A field experiment

Author

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  • Holden, Stein T.
  • Tione, Sarah
  • Tilahun, Mesfin
  • Katengeza, Samson

Abstract

Multiple Price Lists (MPLs) or Choice Lists (CLs) are widely used to elicit risk and time preferences, yet are prone to cognitive biases, particularly among respondents with limited numeracy skills. This paper compares three elicitation approaches; row-by-row from the top, from the bottom, and a Rapid Elicitation (RE) method using random starting points; in a field experiment with 906 rural Malawian farmers. With 20 MPLs per subject, we estimate starting point and order biases in switch points using nonparametric and parametric methods.

Suggested Citation

  • Holden, Stein T. & Tione, Sarah & Tilahun, Mesfin & Katengeza, Samson, 2025. "Elicitation bias in Multiple Price Lists: A field experiment," Journal of Behavioral and Experimental Economics (formerly The Journal of Socio-Economics), Elsevier, vol. 119(C).
    • Handle: RePEc:eee:soceco:v:119:y:2025:i:c:s2214804325001430
    DOI: 10.1016/j.socec.2025.102479
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    JEL classification:

    • C93 - Mathematical and Quantitative Methods - - Design of Experiments - - - Field Experiments
    • D81 - Microeconomics - - Information, Knowledge, and Uncertainty - - - Criteria for Decision-Making under Risk and Uncertainty
    • D91 - Microeconomics - - Micro-Based Behavioral Economics - - - Role and Effects of Psychological, Emotional, Social, and Cognitive Factors on Decision Making

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