TY - JOUR
T1 - Tough and easy choices
T2 - testing the influence of utility difference on stated certainty-in-choice in choice experiments
AU - Olsen, Søren Bøye
AU - Lundhede, Thomas
AU - Jacobsen, Jette Bredahl
AU - Thorsen, Bo Jellesmark
PY - 2011
Y1 - 2011
N2 - Respondents in Stated Preference studies may be uncertain about their preferences for the good presented to them. Inspired by Wang (J Environ Econ Manag 32:219–232, 1997) we hypothesize that respondents’ stated certainty in choice increases with the utility difference between the alternative chosen and the best alternative to that. We test this hypothesis using data from two independent Choice Experiments both focusing on nature values. In modelling respondents’ self-reported certainty in choice, we find evidence that the stated level of certainty increases significantly as utility difference in choice sets increases. In addition, stated certainty increases with income. Furthermore, there is some evidence that male respondents are inherently more certain in their choices than females, and a learning effect may increase stated certainty. We find evidence of this in the first study where the good is described in rather broad and generic terms, but not in the second study where a more specific description of the good is used.
AB - Respondents in Stated Preference studies may be uncertain about their preferences for the good presented to them. Inspired by Wang (J Environ Econ Manag 32:219–232, 1997) we hypothesize that respondents’ stated certainty in choice increases with the utility difference between the alternative chosen and the best alternative to that. We test this hypothesis using data from two independent Choice Experiments both focusing on nature values. In modelling respondents’ self-reported certainty in choice, we find evidence that the stated level of certainty increases significantly as utility difference in choice sets increases. In addition, stated certainty increases with income. Furthermore, there is some evidence that male respondents are inherently more certain in their choices than females, and a learning effect may increase stated certainty. We find evidence of this in the first study where the good is described in rather broad and generic terms, but not in the second study where a more specific description of the good is used.
U2 - 10.1007/s10640-010-9443-9
DO - 10.1007/s10640-010-9443-9
M3 - Journal article
VL - 49
SP - 491
EP - 510
JO - Environmental and Resource Economics
JF - Environmental and Resource Economics
SN - 0924-6460
IS - 4
ER -