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Validating List Experiment Estimates Against an Incentive-Compatible Behavioral Measure

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  • John List

Abstract

List Experiments are widely used across the social sciences to measure sensitive attitudes and behaviors, yet no prior study has validated their estimates against an incentive-compatible behavioral measure. I conduct a field experiment with 400 subjects at a sports card show, combining List Experiment treatments for willingness to pay, one for wolf reintroduction in Yellowstone Park, one for a graded sports card, with a Vickrey second-price auction that provides a real-money benchmark. The List Experiment estimates 26% would pay $50 for the card, compared to 22% who bid at least that amount in the auction; this difference is not statistically significant. These results provide the first criterion validity test of a List Experiment and suggest the method holds promise as a parsimonious alternative to conventional stated preference approaches in settings where survey space constraints preclude standard bias-mitigation interventions.

Suggested Citation

  • John List, 2026. "Validating List Experiment Estimates Against an Incentive-Compatible Behavioral Measure," Framed Field Experiments 00830, The Field Experiments Website.
    • Handle: RePEc:feb:framed:00830
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    References listed on IDEAS

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    1. List, John A. & Shogren, Jason F., 1998. "Calibration of the difference between actual and hypothetical valuations in a field experiment," Journal of Economic Behavior & Organization, Elsevier, vol. 37(2), pages 193-205, October.
    2. Imai, Kosuke, 2011. "Multivariate Regression Analysis for the Item Count Technique," Journal of the American Statistical Association, American Statistical Association, vol. 106(494), pages 407-416.
    3. Richard A. Hofler & John A. List, 2004. "Valuation on the Frontier: Calibrating Actual and Hypothetical Statements of Value," American Journal of Agricultural Economics, John Wiley & Sons, vol. 86(1), pages 213-221, February.
    4. Laura O. Taylor & Ronald G. Cummings, 1999. "Unbiased Value Estimates for Environmental Goods: A Cheap Talk Design for the Contingent Valuation Method," American Economic Review, American Economic Association, vol. 89(3), pages 649-665, June.
    5. James Murphy & P. Allen & Thomas Stevens & Darryl Weatherhead, 2005. "A Meta-analysis of Hypothetical Bias in Stated Preference Valuation," Environmental & Resource Economics, Springer;European Association of Environmental and Resource Economists, vol. 30(3), pages 313-325, March.
    6. John A. List, 2003. "Does Market Experience Eliminate Market Anomalies?," The Quarterly Journal of Economics, President and Fellows of Harvard College, vol. 118(1), pages 41-71.
    7. R. K. Blamey & J. W. Bennett & M. D. Morrison, 1999. "Yea-Saying in Contingent Valuation Surveys," Land Economics, University of Wisconsin Press, vol. 75(1), pages 126-141.
    8. Robert J. Johnston & Kevin J. Boyle & Wiktor (Vic) Adamowicz & Jeff Bennett & Roy Brouwer & Trudy Ann Cameron & W. Michael Hanemann & Nick Hanley & Mandy Ryan & Riccardo Scarpa & Roger Tourangeau & Ch, 2017. "Contemporary Guidance for Stated Preference Studies," Journal of the Association of Environmental and Resource Economists, University of Chicago Press, vol. 4(2), pages 319-405.
    9. 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.
    10. Peter A. Diamond & Jerry A. Hausman, 1994. "Contingent Valuation: Is Some Number Better than No Number?," Journal of Economic Perspectives, American Economic Association, vol. 8(4), pages 45-64, Fall.
    11. Richard T. Carson & Theodore Groves & John A. List, 2014. "Consequentiality: A Theoretical and Experimental Exploration of a Single Binary Choice," Journal of the Association of Environmental and Resource Economists, University of Chicago Press, vol. 1(1), pages 171-207.
    12. Blair, Graeme & Imai, Kosuke, 2012. "Statistical Analysis of List Experiments," Political Analysis, Cambridge University Press, vol. 20(1), pages 47-77, January.
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