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Incentivizing stated preference elicitation with choice-matching in the field

Ewa Zawojska and Michał Krawczyk
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Michał Krawczyk: University of Warsaw, Faculty of Economic Sciences

No 2022-04, Working Papers from Faculty of Economic Sciences, University of Warsaw

Abstract: Stated preferences should ideally be elicited in ways providing respondents with economic incentives to report them truthfully—that is, in incentive-compatible conditions. This study aims at testing empirically a novel theoretical approach, which allows for incentive-compatible elicitation of preferences. Choice-matching, proposed by Cvitanić et al. (2019), is applied here to elicit stated preferences towards a public good. While the approach has been originally designed for incentivizing responses to a multiple choice question, we illustrate its possible application to an open-ended question. We conduct an online experiment mirroring a standard stated preference survey as used for valuation of public goods. Two versions of the survey questionnaire are implemented: one employing the incentive-compatible choice-matching approach and another representing a common non-incentivized setting. We find that the open-ended willingness-to-pay values are statistically significantly higher when stated under choice-matching than when expressed in the non-incentivized conditions.

Keywords: contingent valuation; choice-matching; incentive compatibility; open-ended elicitation; stated preferences (search for similar items in EconPapers)
JEL-codes: D61 D82 H43 Q51 (search for similar items in EconPapers)
Pages: 31 pages
Date: 2022
New Economics Papers: this item is included in nep-dcm, nep-des and nep-exp
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