SC-X: CALIBRATING STATED CHOICE SURVEYS WITH EXPERIMENTAL AUCTION MARKETS

Frode Alfnes and Kyrre Rickertsen

No 21962, 2003 Annual meeting, July 27-30, Montreal, Canada from American Agricultural Economics Association (New Name 2008: Agricultural and Applied Economics Association)

Abstract: Experimental auctions (X) use real economic incentives but are limited by available products and locally recruited samples. Stated choice (SC) surveys can use a representative sample to estimate the willingness to pay (WTP) for hypothetical products with unavailable characteristics. However, a number of studies conclude that surveys give biased WTP estimates. We designed a method, SC-X, to calibrate the WTP estimates from stated choice surveys with WTP observed in experimental auctions. This method allows us to extend the results from auctions to products with unavailable characteristics and to socioeconomic groups not included in the auction. The SC-X method is illustrated using Norwegian consumers' preferences for country-of-origin and hormone status for beef.

Keywords: Agribusiness (search for similar items in EconPapers)
Pages: 21
Date: 2003
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Citations: View citations in EconPapers (3)

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Working Paper: SC-X: CALIBRATING STATED CHOICE SURVEYS WITH EXPERIMENTAL AUCTION MARKETS (2003)
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Persistent link: https://EconPapers.repec.org/RePEc:ags:aaea03:21962

DOI: 10.22004/ag.econ.21962

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