None-of-These Bias in Stated Choice Experiments
Frode Alfnes and
No 24761, 2005 International Congress, August 23-27, 2005, Copenhagen, Denmark from European Association of Agricultural Economists
We conduct a within-sample test of hypothetical bias and parameter equality between a hypothetical stated choice (SC) experiment using pictures and a real choice (RC) experiments using products. With exception of the none-of-these alternative-specific dummy, we cannot reject parameter equality between the two datasets. However, when we estimate the models separately with no parameter restrictions, the SC experiment gave WTP estimates that were approximately 50 percent higher and marginal WTP estimates that were almost two times as high as the corresponding estimates from the RC experiment. However, even though the monetary value of the WTP disparity was large, the disparity between the WTP estimates from the two data sets was not statistically significant.
Keywords: Consumer/Household; Economics (search for similar items in EconPapers)
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