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 -