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

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.


Subject(s):
Issue Date:
2003
Publication Type:
Conference Paper/ Presentation
PURL Identifier:
http://purl.umn.edu/21962
Total Pages:
21
Series Statement:
Selected Paper




 Record created 2017-04-01, last modified 2017-08-24

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