Experimental methods and the welfare evaluation of policy lotteries

Glenn Harrison

European Review of Agricultural Economics, 2011, vol. 38, issue 3, 335-360

Abstract: Policies impose lotteries of outcomes on individuals, since we never know exactly what the effects of the policy will be. In order to evaluate alternative policies, we need to make assumptions about individual preferences, even before social welfare functions are applied. There are two broad ways in which experimental methods are used to evaluate policy. One is to use experiments to estimate individual preferences, valuations and beliefs and use those estimates as priors in policy evaluation. The other is to use randomisation to infer the effects of policy. The strengths, weaknesses and complementarities of these approaches are reviewed. , Oxford University Press.

Date: 2011
References: Add references at CitEc
Citations: View citations in EconPapers (24)

Downloads: (external link)
http://hdl.handle.net/10.1093/erae/jbr029 (application/pdf)
Access to full text is restricted to subscribers.

Related works:
Working Paper: Experimental Methods and the Welfare Evaluation of Policy Lotteries (2011)
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:oup:erevae:v:38:y:2011:i:3:p:335-360

Ordering information: This journal article can be ordered from
https://academic.oup.com/journals

Access Statistics for this article

European Review of Agricultural Economics is currently edited by Timothy Richards, Salvatore Di Falco, Céline Nauges and Vincenzina Caputo

More articles in European Review of Agricultural Economics from Oxford University Press and the European Agricultural and Applied Economics Publications Foundation Oxford University Press, Great Clarendon Street, Oxford OX2 6DP, UK. Contact information at EDIRC.
Bibliographic data for series maintained by Oxford University Press ().