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Experimental Methods and Elicitation of Values

  • Harrison, Glen W.
  • Ronald M. Harstad
  • E. Elisabet Rutström

Experimental methods are currently being used extensively to elicit subjective values for commodities and projects. Three methodological problems are not addressed in this emerging literature. The first is the potential for laboratory responses to be censored by field opportunities; the second is the potential for subjective perceptions about field opportunities, and hence responses, to be affected by the instution used to elicit values; and third is the potential for some elicitation institutions to influence subjective perceptions of characteristics of the commodity or project being valued. All three problems result in potential loss of control over the value elicitation process.

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Paper provided by University of Bonn, Germany in its series Discussion Paper Serie B with number 349.

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Length: pages
Date of creation: Nov 1995
Date of revision:
Handle: RePEc:bon:bonsfb:349
Contact details of provider: Postal: Bonn Graduate School of Economics, University of Bonn, Adenauerallee 24 - 26, 53113 Bonn, Germany
Fax: +49 228 73 6884
Web page: http://www.bgse.uni-bonn.de

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