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Valuation using multiple price list formats.

Anderson, S. and Harrison, G. W. and Lau, M. I. and Rutstrom, E. E. (2007) 'Valuation using multiple price list formats.', Applied economics., 39 (6). pp. 675-682.

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.

Item Type:Article
Full text:Full text not available from this repository.
Publisher Web site:http://dx.doi.org/10.1080/00036840500462046
Record Created:21 Aug 2008
Last Modified:12 Feb 2010 12:52

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