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

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11/2017
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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.
Citation
Brouwer , R , Logar , I & Sheremet , O 2017 , ' Choice consistency and preference stability in test-retests of discrete choice experiment and open-ended willingness to pay elicitation formats ' , Environmental and Resource Economics , vol. 68 , no. 3 , pp. 729-751 . https://doi.org/10.1007/s10640-016-0045-z
Publication
Environmental and Resource Economics
Status
Peer reviewed
DOI
https://doi.org/10.1007/s10640-016-0045-z
ISSN
0924-6460
Type
Journal article
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© 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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This study was funded by the Swiss Federal Institute of Aquatic Science and Technology (Eawag) in Zürich.
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http://hdl.handle.net/10023/9196

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