Temporal stability of preferences and willingness to pay for natural areas in choice experiments: a test-retest
Temporal stability of preferences and willingness to pay for natural areas in choice experiments: a test-retest
The main objective of this paper is to test the temporal stability of stated preferences and willingness to pay (WTP) values from a Choice Experiment (CE) in a test–retest. The same group of participants was asked the same choice tasks in an internet-based CE, conducted twice with a time interval of one year without interviewer interference. We examine choice consistency at individual choice task level and transferability of the underlying indirect utility function and associated WTP values. The results show that choices are consistent in 57 percent of the choice occasions. Comparison of the choice models over time shows that the estimated preference and scale parameters are significantly different, suggesting that choice behaviour changed between the two surveys. Differences between marginal WTP estimates for individual choice attributes are statistically significant only at the 10 percent level. However, we show that this can result in significantly different WTP values for policy scenarios. The instability of estimated mean WTP values for different policy scenarios asks for caution when including WTP values in cost-benefit analysis.
choice experiment, test–retest, preference stability, temporal reliability
243-260
Schaafsma, Marije
937ac629-0fa2-4a11-bdf7-c3688405467d
Brouwer, Roy
e05861b5-5961-45cd-9de0-883067908c5e
Liekens, Inge
71ad389d-8f8f-4849-bef8-2c9183665dd4
De Nocker, Leo
7eee5db0-eddf-4fa4-83ff-0b04fd82306e
November 2014
Schaafsma, Marije
937ac629-0fa2-4a11-bdf7-c3688405467d
Brouwer, Roy
e05861b5-5961-45cd-9de0-883067908c5e
Liekens, Inge
71ad389d-8f8f-4849-bef8-2c9183665dd4
De Nocker, Leo
7eee5db0-eddf-4fa4-83ff-0b04fd82306e
Schaafsma, Marije, Brouwer, Roy, Liekens, Inge and De Nocker, Leo
(2014)
Temporal stability of preferences and willingness to pay for natural areas in choice experiments: a test-retest.
Resource and Energy Economics, 38, .
(doi:10.1016/j.reseneeco.2014.09.001).
Abstract
The main objective of this paper is to test the temporal stability of stated preferences and willingness to pay (WTP) values from a Choice Experiment (CE) in a test–retest. The same group of participants was asked the same choice tasks in an internet-based CE, conducted twice with a time interval of one year without interviewer interference. We examine choice consistency at individual choice task level and transferability of the underlying indirect utility function and associated WTP values. The results show that choices are consistent in 57 percent of the choice occasions. Comparison of the choice models over time shows that the estimated preference and scale parameters are significantly different, suggesting that choice behaviour changed between the two surveys. Differences between marginal WTP estimates for individual choice attributes are statistically significant only at the 10 percent level. However, we show that this can result in significantly different WTP values for policy scenarios. The instability of estimated mean WTP values for different policy scenarios asks for caution when including WTP values in cost-benefit analysis.
Text
Schaafsma et al Test retest Choice Experiment.pdf
- Author's Original
Restricted to Registered users only
Request a copy
More information
e-pub ahead of print date: 28 September 2014
Published date: November 2014
Keywords:
choice experiment, test–retest, preference stability, temporal reliability
Organisations:
Global Env Change & Earth Observation, Centre for Biological Sciences
Identifiers
Local EPrints ID: 370532
URI: http://eprints.soton.ac.uk/id/eprint/370532
ISSN: 0928-7655
PURE UUID: 49727e53-f165-4a74-83ee-b2e908bfdd62
Catalogue record
Date deposited: 30 Oct 2014 11:13
Last modified: 15 Mar 2024 03:51
Export record
Altmetrics
Contributors
Author:
Roy Brouwer
Author:
Inge Liekens
Author:
Leo De Nocker
Download statistics
Downloads from ePrints over the past year. Other digital versions may also be available to download e.g. from the publisher's website.
View more statistics
