Choice consistency and preference stability in test-retests of discrete choice experiment and open-ended willingness to pay elicitation formats

Roy Brouwer; Ivana Logar; Oleg Sheremet

doi:10.1007/s10640-016-0045-z

Choice consistency and preference stability in test-retests of discrete choice experiment and open-ended willingness to pay elicitation formats

Roy Brouwer^*, Ivana Logar, Oleg Sheremet

^*Corresponding author for this work

Research output: Contribution to journal › Article › peer-review

Abstract

This study tests the temporal stability of preferences, choices and willingness to pay (WTP) values using both discrete choice experiment (DCE) and open-ended (OE) WTP elicitation formats. The same sample is surveyed three times over the course of two years using each time the same choice sets. Choice consistency is positively correlated with choice certainty and choice complexity. The impact of choice complexity fades away in time, most likely as a result of learning and preference refinement. Although the OE WTP values remain stable over a time period of 2 years as in previous stated preference studies, DCE based WTP measures differ significantly, suggesting their use in benefits transfer may be limited.

Original language	English
Pages (from-to)	729-751
Number of pages	23
Journal	Environmental and Resource Economics
Volume	68
Issue number	3
Early online date	8 Jul 2016
DOIs	https://doi.org/10.1007/s10640-016-0045-z
Publication status	Published - Nov 2017

Keywords

Choice consistency
Discrete choice experiment
Open-ended WTP
Preference stability
Test-retest

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Sheremet_2016_ERE_ChoiceConsistency_CC
© The Author(s) 2016. Open Access. This article is distributed under the terms of the Creative Commons Attribution 4.0 International License (http://creativecommons.org/licenses/by/4.0/), which permits unrestricted use, distribution, and reproduction in any medium, provided you give appropriate credit to the original author(s) and the source, provide a link to the Creative Commons license, and indicate if changes were made.
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Cite this

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AU - Brouwer, Roy

AU - Logar, Ivana

AU - Sheremet, Oleg

N1 - This study was funded by the Swiss Federal Institute of Aquatic Science and Technology (Eawag) in Zürich.

PY - 2017/11

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N2 - This study tests the temporal stability of preferences, choices and willingness to pay (WTP) values using both discrete choice experiment (DCE) and open-ended (OE) WTP elicitation formats. The same sample is surveyed three times over the course of two years using each time the same choice sets. Choice consistency is positively correlated with choice certainty and choice complexity. The impact of choice complexity fades away in time, most likely as a result of learning and preference refinement. Although the OE WTP values remain stable over a time period of 2 years as in previous stated preference studies, DCE based WTP measures differ significantly, suggesting their use in benefits transfer may be limited.

AB - This study tests the temporal stability of preferences, choices and willingness to pay (WTP) values using both discrete choice experiment (DCE) and open-ended (OE) WTP elicitation formats. The same sample is surveyed three times over the course of two years using each time the same choice sets. Choice consistency is positively correlated with choice certainty and choice complexity. The impact of choice complexity fades away in time, most likely as a result of learning and preference refinement. Although the OE WTP values remain stable over a time period of 2 years as in previous stated preference studies, DCE based WTP measures differ significantly, suggesting their use in benefits transfer may be limited.

KW - Choice consistency

KW - Discrete choice experiment

KW - Open-ended WTP

KW - Preference stability

KW - Test-retest

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DO - 10.1007/s10640-016-0045-z

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JO - Environmental and Resource Economics

JF - Environmental and Resource Economics

IS - 3

ER -

Choice consistency and preference stability in test-retests of discrete choice experiment and open-ended willingness to pay elicitation formats

Abstract

Keywords

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