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Incomplete Preferences in Choice Experiments: A note on avoidable noise and bias in welfare estimates

Author

Listed:
  • Mitesh Kataria

    () (Max Planck Institute of Economics, Strategic Interaction Group, Jena)

  • Jason F. Shogren

    (University of Wyoming, Department of Economics and Finance, Laramie)

Abstract

How does a choice experiment (CE) model derived under standard preference axioms perform for respondents with incomplete preferences? Using simulated data, we show how such miss-specification results in unnecessary noise and bias in welfare estimates, and can be avoided.

Suggested Citation

  • Mitesh Kataria & Jason F. Shogren, 2010. "Incomplete Preferences in Choice Experiments: A note on avoidable noise and bias in welfare estimates," Jena Economic Research Papers 2010-003, Friedrich-Schiller-University Jena.
  • Handle: RePEc:jrp:jrpwrp:2010-003
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    File URL: http://www.wiwi.uni-jena.de/Papers/jerp2010/wp_2010_003.pdf
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    More about this item

    Keywords

    Choice experiment; Ordered Logit; Bias; Preference Axioms;

    JEL classification:

    • D61 - Microeconomics - - Welfare Economics - - - Allocative Efficiency; Cost-Benefit Analysis
    • Q51 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Environmental Economics - - - Valuation of Environmental Effects

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