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...

We evaluate the claim that individuals exhibit a magnitude effect in their discounting behaviour, where higher discount rates are inferred from choices made with lower principals, all else being equal. If the magnitude effect is quantitatively significant, it is not appropriate to use one...

Do laboratory experiments provide a reliable basis for measuring field preferences? Economists recognize that preferences can differ across individuals, but only a few attempts have been made to elicit individual preferences for representative samples of a population in a particular geographical...