Abstract
This paper tests if second-price Vickrey auction (SPVA) and discrete choice experiment (DCE) are isomorphic, and whether lack of isomorphism is due to value elicitation, value-formation or both. We conduct an artefactual field experiment that combines induced-value (IV) and home-grown (HG) procedures using SPVA and DCE. Induced-value preferences are elicited for tokens and HG preferences for multi-attribute lasagnes. Attributes are healthiness and environmental sustainability. Our results suggest that HG preferences differ across elicitation methods. This discrepancy is due to value-elicitation and value-formation. DCE is the most demand revealing approach and provides the highest premiums for healthy and environmentally sustainable lasagnes.
Original language | English |
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Pages (from-to) | 3-27 |
Number of pages | 25 |
Journal | European Review of Agricultural Economics |
Volume | 46 |
Issue number | 1 |
Early online date | 3 Jul 2018 |
DOIs | |
Publication status | Published - Feb 2019 |
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Profiles
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Jennie Macdiarmid
- School of Medicine, Medical Sciences & Nutrition, The Rowett Institute of Nutrition and Health - Professor in Sustainable Nutrition and Health
- Clinical Medicine
Person: Academic
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Verity Watson
- Public Health, Health Services and Primary Care
- School of Medicine, Medical Sciences & Nutrition, Health Economics Research Unit - Senior Research Fellow
Person: Academic Related - Research