IDEAS home Printed from https://ideas.repec.org/a/oup/erevae/v46y2019i1p3-27..html
   My bibliography  Save this article

Value-elicitation and value-formation properties of discrete choice experiment and experimental auctions

Author

Listed:
  • Simone Cerroni
  • Verity Watson
  • Dimitrios Kalentakis
  • Jennie I Macdiarmid

Abstract

This paper tests if second-price Vickrey auction (SPVA) and discrete choice experiment (DCE) are isomorphic, and whether lack of isomorphism is due to value elicitation, value-formation or both. We conduct an artefactual field experiment that combines induced-value (IV) and home-grown (HG) procedures using SPVA and DCE. Induced-value preferences are elicited for tokens and HG preferences for multi-attribute lasagnes. Attributes are healthiness and environmental sustainability. Our results suggest that HG preferences differ across elicitation methods. This discrepancy is due to value-elicitation and value-formation. DCE is the most demand revealing approach and provides the highest premiums for healthy and environmentally sustainable lasagnes.

Suggested Citation

  • Simone Cerroni & Verity Watson & Dimitrios Kalentakis & Jennie I Macdiarmid, 2019. "Value-elicitation and value-formation properties of discrete choice experiment and experimental auctions," European Review of Agricultural Economics, Oxford University Press and the European Agricultural and Applied Economics Publications Foundation, vol. 46(1), pages 3-27.
    • Handle: RePEc:oup:erevae:v:46:y:2019:i:1:p:3-27.
    as

    Download full text from publisher

    File URL: http://hdl.handle.net/10.1093/erae/jby014
    Download Restriction: Access to full text is restricted to subscribers.
    ---><---

    As the access to this document is restricted, you may want to search for a different version of it.

    Citations

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


    Cited by:

    1. Chavez, Daniel E. & Palma, Marco A. & Nayga, Rodolfo M. & Mjelde, James W., 2020. "Product availability in discrete choice experiments with private goods," Journal of choice modelling, Elsevier, vol. 36(C).
    2. Tajana Čop & Mario Njavro, 2022. "Application of Discrete Choice Experiment in Agricultural Risk Management: A Review," Sustainability, MDPI, vol. 14(17), pages 1-17, August.
    3. Chloe S McCallum & Simone Cerroni & Daniel Derbyshire & W George Hutchinson & Rodolfo M Nayga, 2022. "Consumers’ responses to food fraud risks: an economic experiment [Food fraud and consumers’ choices in the wake of the horsemeat scandal]," European Review of Agricultural Economics, Oxford University Press and the European Agricultural and Applied Economics Publications Foundation, vol. 49(4), pages 942-969.
    4. Zhai, Qianqian & Kassas, Bachir & Zhao, Shuoli & Chen, Lijun & Chen, Chao, 2020. "Investigating Preference Inconsistencies in Incentive Structures that Account for House Money Effects," 2020 Annual Meeting, July 26-28, Kansas City, Missouri 304584, Agricultural and Applied Economics Association.

    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:oup:erevae:v:46:y:2019:i:1:p:3-27.. See general information about how to correct material in RePEc.

    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.

    We have no bibliographic references for this item. You can help adding them by using 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.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Oxford University Press (email available below). General contact details of provider: https://edirc.repec.org/data/eaaeeea.html .

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

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.