1 option
Improving Willingness-to-Pay Elicitation by Including a Benchmark Good / Rebecca Dizon-Ross, Seema Jayachandran.
- Format:
- Book
- Author/Creator:
- Dizon-Ross, Rebecca.
- Series:
- Working Paper Series (National Bureau of Economic Research) no. w29814.
- NBER working paper series no. w29814
- Language:
- English
- Physical Description:
- 1 online resource: illustrations (black and white);
- Place of Publication:
- Cambridge, Mass. National Bureau of Economic Research 2022.
- Summary:
- We propose and validate a simple way to augment the standard Becker-DeGroot-Marschak method that researchers use to elicit willingness to pay (WTP) for a good. The augmentation is to measure WTP for another good ("benchmark good"), one unrelated to both the good the researcher is interested in and the independent variables of interest, and to use WTP for the benchmark good as a control variable in analyses. We illustrate the method and how it can eliminate noise in measured WTP using data collected in Uganda.
- Notes:
- Print version record
- March 2022.
The Penn Libraries is committed to describing library materials using current, accurate, and responsible language. If you discover outdated or inaccurate language, please fill out this feedback form to report it and suggest alternative language.