Show Summary Details

Page of

PRINTED FROM OXFORD HANDBOOKS ONLINE (www.oxfordhandbooks.com). (c) Oxford University Press, 2015. All Rights Reserved. Under the terms of the licence agreement, an individual user may print out a PDF of a single chapter of a title in Oxford Handbooks Online for personal use (for details see Privacy Policy).

date: 17 October 2017

Abstract and Keywords

The purpose of this article is to give a detailed description of the steps involved in designing a choice experiment and analyzing the responses. It also discusses a number of behavioral aspects of stated preference surveys, with an emphasis on hypothetical bias. It briefly presents the underlying economic model that is used to analyze discrete choices. The main idea of a choice experiment is often to estimate the welfare effects of changes in attributes. The article discusses the three important parts of the design of a stated preference survey, namely, definition of attributes and attribute levels, experimental design, and survey context, behavioral aspects, and validity tests. This article discusses the incentive properties of different choice formats, then looks at the empirical evidence on hypothetical bias, and finally at methods for reducing hypothetical bias. It mentions the importance of social context where the decision maker is not one single individual.

Keywords: choice experiment, stated preference surveys, hypothetical bias, economic model, social context, behavioral aspects

Access to the complete content on Oxford Handbooks Online requires a subscription or purchase. Public users are able to search the site and view the abstracts and keywords for each book and chapter without a subscription.

Please subscribe or login to access full text content.

If you have purchased a print title that contains an access token, please see the token for information about how to register your code.

For questions on access or troubleshooting, please check our FAQs, and if you can''t find the answer there, please contact us.