Choice Experiments: identifying preferences or production functions?

Fiona Gibson and Michael Burton

Environmental Economics Research Hub Research Reports from Environmental Economics Research Hub, Crawford School of Public Policy, The Australian National University

Abstract: This paper presents an alternative perspective on the process by which respondents consider options within choice experiments. Building on the “new” model of consumer demand by Stigler and Becker (1977), it suggests that the attributes within choice experiments are not valued directly, but are used to generate higher level “constructs” (i.e. improvement in the environment) which are then valued. The implication is that what are currently viewed as marginal utilities of attributes are in fact marginal utilities of an environmental outcome mixed with (subjective) marginal productivity of the attribute to achieving the environmental outcome. It is suggested the Hierarchical Information Integration methods may allow one to separately identify the utility and production functions, and identify individual heterogeneity therein

Date: 2009-11
New Economics Papers: this item is included in nep-dcm
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Citations: View citations in EconPapers (4)

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Persistent link: https://EconPapers.repec.org/RePEc:een:eenhrr:0940

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