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

Frode Alfnes and Kyrre Rickertsen

No 25814, 2003 Annual Meeting, August 16-22, 2003, Durban, South Africa from International Association of Agricultural Economists

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: Institutional and Behavioral Economics; Marketing (search for similar items in EconPapers)
Pages: 19
Date: 2003
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Citations: View citations in EconPapers (5)

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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:iaae03:25814

DOI: 10.22004/ag.econ.25814

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