Choice Consistency and Preference Stability in Test-Retests of Discrete Choice Experiment and Open-Ended Willingness to Pay Elicitation Formats
Roy Brouwer (),
Ivana Logar and
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Roy Brouwer: University of Waterloo
Ivana Logar: Swiss Federal Institute of Aquatic Science and Technology (Eawag)
Oleg Sheremet: University of St Andrews
Environmental & Resource Economics, 2017, vol. 68, issue 3, 729-751
Abstract This study tests the temporal stability of preferences, choices and willingness to pay (WTP) values using both discrete choice experiment (DCE) and open-ended (OE) WTP elicitation formats. The same sample is surveyed three times over the course of two years using each time the same choice sets. Choice consistency is positively correlated with choice certainty and choice complexity. The impact of choice complexity fades away in time, most likely as a result of learning and preference refinement. Although the OE WTP values remain stable over a time period of 2 years as in previous stated preference studies, DCE based WTP measures differ significantly, suggesting their use in benefits transfer may be limited.
Keywords: Preference stability; Choice consistency; Discrete choice experiment; Test-retest; Open-ended WTP (search for similar items in EconPapers)
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