SFB 303 Discussion Paper No. B - 349

Author: Harrison, Glen W., Ronald M. Harstad, and E. Elisabet Rutström
Title: Experimental Methods and Elicitation of Values
Abstract: Experimental methods are currently being used extensively to elicit subjective values for commodities and projects. Three methodological problems are not addressed in this emerging literature. The first is the potential for laboratory responses to be censored by field opportunities; the second is the potential for subjective perceptions about field opportunities, and hence responses, to be affected by the instution used to elicit values; and third is the potential for some elicitation institutions to influence subjective perceptions of characteristics of the commodity or project being valued. All three problems result in potential loss of control over the value elicitation process.
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Creation-Date: November 1995
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