Using Choice Experiments to Value Non-Market Goods and Services: Evidence from Field Experiments

Using Choice Experiments for Non-Market Valuation

This paper provides the latest research developments in the method of choice experiments applied to valuation of non-market goods. Choice experiments, along with the, by now, well-known contingent valuation method, are very important tools for valuing non-market goods and the results are used in both cost-benefit analyses and litigations related to damage assessments. The paper should provide t...

Market Integration and Fairness: Evidence from Ultimatum, Dictator, and Public Goods Experiments in East Africa

Potential Statistical Evidence in Experiments and Renyi Information

Recently Habibi et al. (2006) defined a pre-experimental criterion for the potential strength of evidence provided by an experiment, based on Kullback-Leibler distance. In this paper, we investigate the potential statistical evidence in an experiment in terms of Renyi distance and compare the potential statistical evidence in lower (upper) record values with that in the same number of ii...

The Value of Field Experiments

T feasibility of using field experiments to optimize marketing decisions remains relatively unstudied. We investigate category pricing decisions that require estimating a large matrix of cross-product demand elasticities and ask the following question: How many experiments are required as the number of products in the category grows? Our main result demonstrates that if the categories have a fa...

Exchange Market for Complex Goods: Theory and Experiments

The modern economy includes a variety of markets, and the Internet has opened opportunities for efficient on-line trading. Researchers have developed algorithms for various auctions, which have become a popular means of on-line sales. They have also designed algorithms for exchange markets, which support fast-paced trading of standardized goods. On the other hand, they have done little work on ...