Are choice experiments incentive compatible? A test with quality differentiated beef steaks

Jayson Lusk and Ted Schroeder

Artefactual Field Experiments from The Field Experiments Website

Abstract: This study compares hypothetical and nonhypothetical responses to choice experiment questions. We test for hypothetical bias in a choice experiment involving beef ribeye steaks with differing quality attributes. In general, hypothetical responses predicted higher probabilities of purchasing beef steaks than nonhypothetical resposnes. Thus, hypothetical choices overestimate total willingness-to-pay for beef steaks. However, marginal willingness-to-pay for a change in steak quality is, in general, not statistically different across hypothetical and actual payment settings.

Date: 2004
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Citations: View citations in EconPapers (360)

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Journal Article: Are Choice Experiments Incentive Compatible? A Test with Quality Differentiated Beef Steaks (2004)
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Persistent link: https://EconPapers.repec.org/RePEc:feb:artefa:00096

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