Valuation in the Lab

Jason Shogren

Environmental & Resource Economics, 2006, vol. 34, issue 1, 163-172

Abstract: Experimental methods have proven useful to explore the power and limits to nonmarket valuation through stated preference methods. We now understand better how people learn about and react to the incentives, institutions, and information created by surveys. This paper briefly reviews topics in experimental valuation, including ex ante bias corrections, ex post bias calibration, and examining the circumstances that strengthen or weaken the economist’s presumption of rational valuation. Copyright Springer 2006

Keywords: valuation; experiments; hypothetical bias; rational choice (search for similar items in EconPapers)
Date: 2006
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Citations: View citations in EconPapers (21)

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DOI: 10.1007/s10640-005-3785-8

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