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experiment as close to actual market conditions as possible. In particular, when dealing with products characterized by a large … number of attributes, the construction of the experiment poses the issue of how to express the choice question providing … render the conditions of the experiment more realistic. This methodology is applied to the case study of wine and is …
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Former studies have shown that people tend to give buying prices that are lower than selling prices. In our study we investigate if this willingness to accept and willingness to pay disparity sustains for state contingent claims. Contingent claims are defined using risky, ambiguous, and...
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hypothetical valuations) are biased. Experimental economics is a promising alternative to obtain directly individual valuation for … prices. Without a market to refer to, evaluating the consequences of a public decision on individual welfare is a challenging … a choice, a scenario or a nonmarket good. Preference study in the lab based on the experimental method is a growing …
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Conjoint choice designs are frequently applied in practice, and often a base alternative is added to the design. When such a 'no-choice' base alternative is present in conjoint choice experiments a constant term should be added to the design ('X'-) matrix with attribute dummies when effects type...
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