Are choice experiments reliable? Evidence from the lab

S. Luchini and Verity Watson

Economics Letters, 2014, vol. 124, issue 1, 9-13

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: Experimental economics; Choice experiment; Demand revelation (search for similar items in EconPapers)
JEL-codes: D1 D6 (search for similar items in EconPapers)
Date: 2014
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (22)

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Persistent link: https://EconPapers.repec.org/RePEc:eee:ecolet:v:124:y:2014:i:1:p:9-13

DOI: 10.1016/j.econlet.2014.04.005

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