Preferences With and Without Prices - does the price attribute affect behavior in stated preference surveys?

Fredrik Carlsson (), Peter Frykblom () and Lagerkvist, Carl-Johan ()
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Peter Frykblom: Department of Economics, Appalachian State University, Postal: Boone, North Carolina 28608-2051
Lagerkvist, Carl-Johan: Department of Economics, Swedish University of Agricultural Sciences, Postal: Box 7013, SE-750 07 Uppsala, Sweden

No 150, Working Papers in Economics from Göteborg University, Department of Economics

Abstract: The experimental as well as the nonmarket valuation literature include several examples of how an introduced price can affect behavior in otherwise not expected ways. It has become standard to include a price vector as an attribute in choice experiments, something that enables us to estimate a marginal willingness to pay for other attributes. We test the impact on preferences by an inclusion of a price in a choice experiment. Preferences are affected, as might be expected. However, also the relative ranking of individual attributes is affected. We end on a positive note, observing that a price seems to drive out zero price opinions, e.g. warm glow values.

Keywords: choice experiment; hypothetical WTP; preference reversal (search for similar items in EconPapers)
JEL-codes: D12 Q13 (search for similar items in EconPapers)
New Economics Papers: this item is included in nep-dcm, nep-mic and nep-res
Date: 2004-11-18
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Related works:
Journal Article: Preferences with and without prices - does the price attribute affect behavior in stated preference surveys? (2007)
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Persistent link: http://EconPapers.repec.org/RePEc:hhs:gunwpe:0150

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