Are valuations from nonhypothetical choice experiments different from those of experimental auctions?

Azucena Gracia, Maria L. Loureiro, Rodolfo M. Nayga, Jr

Research output: Contribution to journalArticle

33 Citations (Scopus)

Abstract

Due to the importance of comparability and external validity of results, nonhypothetical experimental methods are increasingly used to elicit consumers' willingness to pay for various goods. Two of the increasingly popular preference elicitation methods are the nonhypothetical choice experiments and experimental auctions. We conduct experiments to compare willingness to pay estimates elicited from both methods. Our results generally suggest that valuations elicited from experimental auctions can differ from those obtained from nonhypothetical choice experiments.

Original languageEnglish
Pages (from-to)1358-1373
Number of pages16
JournalAmerican Journal of Agricultural Economics
Volume93
Issue number5
DOIs
Publication statusPublished - 2011 Oct 1
Externally publishedYes

Fingerprint

auctions
willingness to pay
Reproducibility of Results
methodology
Willingness-to-pay
Choice experiment
Experimental auctions
Preference elicitation
External validity
Experiment
Experimental method

Keywords

  • animal welfare
  • choice experiment
  • consumer preferences
  • experimental auctions
  • incentive compatibility
  • nonhypothetical elicitation methods

ASJC Scopus subject areas

  • Agricultural and Biological Sciences (miscellaneous)
  • Economics and Econometrics

Cite this

Are valuations from nonhypothetical choice experiments different from those of experimental auctions? / Gracia, Azucena; Loureiro, Maria L.; Nayga, Jr, Rodolfo M.

In: American Journal of Agricultural Economics, Vol. 93, No. 5, 01.10.2011, p. 1358-1373.

Research output: Contribution to journalArticle

Gracia, Azucena ; Loureiro, Maria L. ; Nayga, Jr, Rodolfo M. / Are valuations from nonhypothetical choice experiments different from those of experimental auctions?. In: American Journal of Agricultural Economics. 2011 ; Vol. 93, No. 5. pp. 1358-1373.
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