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Multiple Price Lists for Willingness to Pay Elicitation / Kelsey Jack, Kathryn McDermott, Anja Sautmann.
World Bank Open Knowledge Repository (formerly "World Bank E-Library Publications") Available online
View online- Format:
- Book
- Author/Creator:
- Jack, Kelsey, author.
- McDermott, Kathryn, author.
- Sautmann, Anja, author.
- Series:
- Policy Research Working Papers ; 10173.
- Policy Research Working Papers ; 10173
- Language:
- English
- Subjects (All):
- Willingness to pay.
- Physical Description:
- 1 online resource.
- Place of Publication:
- Washington, DC : World Bank, 2022.
- Language Note:
- English.
- Summary:
- Multiple price lists are a convenient tool to elicit willingness to pay (WTP) in surveys and experiments, but choice patterns such as "multiple switching" and "never switching" indicate high error rates. Existing measurement approaches often do not provide accurate standard errors and cannot correct for bias due to framing and order effects. We propose to combine a randomization approach with a random-effects latent utility model to detect bias and account for error. Data from a choice experiment in South Africa shows that significant order effects exist which, if uncorrected, would lead to distorted conclusions about subjects' preferences. We provide templates to create a multiple price list survey instrument in SurveyCTO and analyze the resulting data using our proposed methods.
- Notes:
- Description based on publisher supplied metadata and other sources.
- Publisher Number:
- 10.1596/1813-9450-10173
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