Are choice experiments incentive compatible? A test with quality differentiated beef steaks
This study compares hypothetical and nonhypothetical responses to choice experiment questions. We test for hypothetical bias in a choice experiment involving beef ribeye steaks with differing quality attributes. In general, hypothetical responses predicted higher probabilities of purchasing beef steaks than nonhypothetical resposnes. Thus, hypothetical choices overestimate total willingness-to-pay for beef steaks. However, marginal willingness-to-pay for a change in steak quality is, in general, not statistically different across hypothetical and actual payment settings.
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- List, John A. & Shogren, Jason F., 1998.
"Calibration of the difference between actual and hypothetical valuations in a field experiment,"
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Elsevier, vol. 37(2), pages 193-205, October.
- Jason Shogren & John List, 1998. "Calibration of the difference between actual and hypothetical valuations in a field experiment," Natural Field Experiments 00296, The Field Experiments Website.
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- List John A. & Sinha Paramita & Taylor Michael H., 2006.
"Using Choice Experiments to Value Non-Market Goods and Services: Evidence from Field Experiments,"
The B.E. Journal of Economic Analysis & Policy,
De Gruyter, vol. 5(2), pages 1-39, January.
- John List & Michael Taylor & Paramita Sinha, 2006. "Using choice experiments to value non-market goods and services: Evidence from field experiments," Natural Field Experiments 00278, The Field Experiments Website.
- John List & Craig Gallet, 2001. "What Experimental Protocol Influence Disparities Between Actual and Hypothetical Stated Values?," Environmental & Resource Economics, Springer;European Association of Environmental and Resource Economists, vol. 20(3), pages 241-254, November.
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