Title

Valuation using multiple price list formats

Authors

Authors

S. Anderson; G. W. Harrison; M. I. Lau;E. E. Rutstrom

Comments

Authors: contact us about adding a copy of your work at STARS@ucf.edu

Abbreviated Journal Title

Appl. Econ.

Keywords

DISCOUNT RATES; ELICITATION; REWARDS; VALUES; Economics

Abstract

We examine the properties of a popular method for elicitation of valuations from experimental subjects, the multiple price list format. The main advantages of this format are that it is relatively transparent to subjects and provides simple incentives for truthful revelation. The main disadvantages are that it only elicits interval responses, and could be susceptible to framing effects. We consider extensions to address and evaluate these concerns in the context of eliciting willingness to pay for products. We find that the multiple price list can elicit relatively precise valuations for products, and that those valuations are robust to possible framing effects. It therefore offers an attractive procedure for eliciting valuations for goods.

Journal Title

Applied Economics

Volume

39

Issue/Number

4-6

Publication Date

1-1-2007

Document Type

Article

DOI Link

http://dx.doi.org/10.1080/00036840500462046

Language

English

First Page

675

Last Page

682

WOS Identifier

WOS:000246579100025

ISSN

0003-6846

Recommended Citation

"Valuation using multiple price list formats" (2007). Faculty Bibliography 2000s. 6831.
https://stars.library.ucf.edu/facultybib2000/6831