Multiple Price Lists for Willingness to Pay Elicitation

B. Kelsey Jack, Kathryn McDermott and Anja Sautmann

No 30433, NBER Working Papers from National Bureau of Economic Research, Inc

Abstract: Multiple price lists are a convenient tool to elicit willingness to pay (WTP) in surveys and experiments, but choice patterns such as “multiple switching” and “never switching” indicate high error rates. Existing measurement approaches often do not provide accurate standard errors and cannot correct for bias due to framing and order effects. We propose to combine a randomization approach with a random-effects latent utility model to detect bias and account for error. Data from a choice experiment in South Africa shows that significant order effects exist which, if uncorrected, would lead to distorted conclusions about subjects’ preferences. We provide templates to create a multiple price list survey instrument in SurveyCTO and analyze the resulting data using our proposed methods.

JEL-codes: C91 C93 D46 O12 Q51 (search for similar items in EconPapers)
Date: 2022-09
New Economics Papers: this item is included in nep-dcm, nep-ecm, nep-exp and nep-upt
Note: DEV EEE
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Citations: View citations in EconPapers (6)

Published as B. Kelsey Jack & Kathryn McDermott & Anja Sautmann, 2022. "Multiple price lists for willingness to pay elicitation," Journal of Development Economics, .

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