Starting point anchoring effects in choice experiments
Publikation: Working paper › Forskning
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Starting point anchoring effects in choice experiments. / Ladenburg, Jacob; Olsen, Søren Bøye.
Copenhagen : Center for Skov, Landskab og Planlægning/Københavns Universitet, 2006.Publikation: Working paper › Forskning
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TY - UNPB
T1 - Starting point anchoring effects in choice experiments
AU - Ladenburg, Jacob
AU - Olsen, Søren Bøye
PY - 2006
Y1 - 2006
N2 - Anchoring is acknowledged as a potential source of considerable bias in Dichotomous Choice Contingent Valuation studies. Recently, another stated preference method known as Choice Experiments has gained in popularity as well as the number of applied studies. However, as the elicitation of preferences in Choice Experiments resembles the Dichotomous Choice format, there is reason to suspect that Choice Experiments are equally vulnerable to anchoring bias. Employing different sets of price levels in a so-called Instruction Choice Set presented prior to the actual choice sets, the present study finds that preferences elicited by Choice Experiments can be subject to starting point anchoring bias. Different price levels provoked significantly different distributions of choice in two otherwise identical choice set designs. On a more specific level, the results indicate that the anchoring subjectivity in the present study is gender dependent, pointing towards, that female respondents are prone to be affected by the price levels employed. Male respondents, on the other hand, are not sensitive towards these prices levels. Overall, this implicates that female respondents, when employing a low-priced Instruction Choice Set, tend to express lower willingness-to-pay than when higher prices are employed.
AB - Anchoring is acknowledged as a potential source of considerable bias in Dichotomous Choice Contingent Valuation studies. Recently, another stated preference method known as Choice Experiments has gained in popularity as well as the number of applied studies. However, as the elicitation of preferences in Choice Experiments resembles the Dichotomous Choice format, there is reason to suspect that Choice Experiments are equally vulnerable to anchoring bias. Employing different sets of price levels in a so-called Instruction Choice Set presented prior to the actual choice sets, the present study finds that preferences elicited by Choice Experiments can be subject to starting point anchoring bias. Different price levels provoked significantly different distributions of choice in two otherwise identical choice set designs. On a more specific level, the results indicate that the anchoring subjectivity in the present study is gender dependent, pointing towards, that female respondents are prone to be affected by the price levels employed. Male respondents, on the other hand, are not sensitive towards these prices levels. Overall, this implicates that female respondents, when employing a low-priced Instruction Choice Set, tend to express lower willingness-to-pay than when higher prices are employed.
KW - Former LIFE faculty
KW - Choice experiment
KW - Starting point
KW - Starting point anchoring bias
KW - Non-market valuation
KW - Gender-specific discrfepancy
M3 - Working paper
T3 - IFRO Working Paper
BT - Starting point anchoring effects in choice experiments
PB - Center for Skov, Landskab og Planlægning/Københavns Universitet
CY - Copenhagen
ER -
ID: 8019012