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Are Choice Experiments Incentive Compatible? A Test with Quality Differentiated Beef Steaks
Open accessAbstract
This study compares hypothetical and nonhypothetical responses to choice experiment questions. We test for hypothetical bias in a choice experiment involving beef ribeye steaks with differing quality attributes. In general, hypothetical responses predicted higher probabilities of purchasing beef steaks than nonhypothetical responses. Thus, hypothetical choices overestimate total willingness‐to‐pay for beef steaks. However, marginal willingness‐to‐pay for a change in steak quality is, in general, not statistically different across hypothetical and actual payment settings.
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Cites
A New Approach to Consumer Theory
Lancaster, K. J. (1966) · Journal of Political Economy · doi:10.1086/259131 · Cited by 8,471
Cited by
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Miller, K. M., Hofstetter, R., Krohmer, H., & Zhang, Z. J. (2011) · Journal of Marketing Research · doi:10.1509/jmkr.48.1.172 · Cited by 441
Alfnes, F., Guttormsen, A. G., Steine, G., & Kolstad, K. (2006) · American Journal of Agricultural Economics · doi:10.1111/j.1467-8276.2006.00915.x · Cited by 409
Food safety in low and middle-income countries: The evidence through an economic lens
Hoffmann, V., Moser, C., & Saak, A. (2019) · World Development · doi:10.1016/j.worlddev.2019.104611 · Cited by 171
The bunch of sustainability labels–do consumers differentiate?
Janßen, D., & Langen, N. (2017) · Journal of Cleaner Production · doi:10.1016/j.jclepro.2016.11.171 · Cited by 148
Metadata
- Authors
- Lusk, J. L., & Schroeder, T. C.
- Venue
- American Journal of Agricultural Economics
- Publisher
- Wiley
- Published
- 2004-05
- Volume
- 86
- Issue
- 2
- Pages
- 467-482
- ISSN
- 0002-9092 (ISSN-L)
- 1467-8276
- OpenAlex
- W2145277461
- Cited by
- 809
- References
- 1
- FWCI
- 44.25
- Type
- journal article
- Language
- en
- Open access
- green
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- Lusk, J. L., & Schroeder, T. C. (2004). Are Choice Experiments Incentive Compatible? A Test with Quality Differentiated Beef Steaks. American Journal of Agricultural Economics. https://doi.org/10.1111/j.0092-5853.2004.00592.x
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Contains information from the Semantic Scholar Academic Graph Datasets, made available under the ODC Attribution License (ODC-BY 1.0).
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