A penny for your thoughts: Inducing truth-telling in stated preference elicitation
dc.contributor.author
Barrage, Lint
dc.contributor.author
Lee, Min Sok
dc.date.accessioned
2022-09-01T08:25:46Z
dc.date.available
2022-08-31T14:31:08Z
dc.date.available
2022-09-01T08:25:46Z
dc.date.issued
2010-02
dc.identifier.issn
0165-1765
dc.identifier.other
10.1016/j.econlet.2009.11.006
en_US
dc.identifier.uri
http://hdl.handle.net/20.500.11850/568169
dc.description.abstract
Contingent valuation often induces hypothetical bias. In a laboratory experiment, we test three calibration mechanisms: cheap-talk, consequentialism, and a new mechanism, the Bayesian truth serum (“BTS”). We apply the BTS in a “faith-based” format: subjects are informed about the purpose and potential efficacy of the BTS, but not its theoretical foundations. We find that real and hypothetical responses differ significantly; real and consequentialist responses are statistically indistinguishable; cheap-talk and the BTS eliminate bias inconsistently; subject characteristics interact significantly with treatment.
en_US
dc.language.iso
en
en_US
dc.publisher
Elsevier
en_US
dc.subject
Bayesian truth serum
en_US
dc.subject
Cheap-talk
en_US
dc.subject
Contingent valuation
en_US
dc.subject
Hypothetical bias
en_US
dc.subject
Stated preference
en_US
dc.title
A penny for your thoughts: Inducing truth-telling in stated preference elicitation
en_US
dc.type
Journal Article
ethz.journal.title
Economics Letters
ethz.journal.volume
106
en_US
ethz.journal.issue
2
en_US
ethz.journal.abbreviated
Econ Lett
ethz.pages.start
140
en_US
ethz.pages.end
142
en_US
ethz.code.jel
JEL - JEL::Q - Agricultural and Natural Resource Economics; Environmental and Ecological Economics::Q2 - Renewable Resources and Conservation::Q26 - Recreational Aspects of Natural Resources
en_US
ethz.code.jel
JEL - JEL::C - Mathematical and Quantitative Methods::C9 - Design of Experiments::C90 - General
en_US
ethz.code.jel
JEL - JEL::H - Public Economics::H4 - Publicly Provided Goods::H41 - Public Goods
en_US
ethz.publication.place
Amsterdam
en_US
ethz.publication.status
published
en_US
ethz.leitzahl
ETH Zürich::00002 - ETH Zürich::00012 - Lehre und Forschung::00007 - Departemente::02120 - Dep. Management, Technologie und Ökon. / Dep. of Management, Technology, and Ec.::09762 - Barrage, Lint / Barrage, Lint
en_US
ethz.date.deposited
2022-08-31T14:31:13Z
ethz.source
FORM
ethz.eth
no
en_US
ethz.availability
Metadata only
en_US
ethz.rosetta.installDate
2022-09-01T08:25:53Z
ethz.rosetta.lastUpdated
2022-09-01T08:25:53Z
ethz.rosetta.versionExported
true
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Journal Article [130177]