Are choice experiments reliable? Evidence from the lab

Stéphane Luchini () and Verity Watson
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Stéphane Luchini: GREQAM - Groupement de Recherche en Économie Quantitative d'Aix-Marseille - EHESS - École des hautes études en sciences sociales - AMU - Aix Marseille Université - ECM - École Centrale de Marseille - CNRS - Centre National de la Recherche Scientifique

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Abstract: This study investigates whether a popular stated preference method, the choice experiment (CE), reliably measures individuals' values for a good. We address this question using an induced value experiment. Our results indicate that CEs fail to elicit payoff maximizing choices. We find little evidence that increasing the salience of the choices or adding monetary incentives increase the proportion of payoff maximizing choices. This questions the increasing use of CE to value non-market goods for policy making.

Keywords: demand; revelation (search for similar items in EconPapers)
Date: 2014
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Citations: View citations in EconPapers (19)

Published in Economics Letters, 2014, 124 (1), pp.9--13. ⟨10.1016/j.econlet.2014.04.005⟩

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Persistent link: https://EconPapers.repec.org/RePEc:hal:journl:hal-01463113

DOI: 10.1016/j.econlet.2014.04.005

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