Data and Code for: Improving Willingness-to-Pay Elicitation by Including a Benchmark Good
Principal Investigator(s): View help for Principal Investigator(s) Rebecca Dizon-Ross, University of Chicago. Booth School of Business; Seema Jayachandran, Northwestern University
Version: View help for Version V1
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Project Citation:
Dizon-Ross, Rebecca, and Jayachandran, Seema. Data and Code for: Improving Willingness-to-Pay Elicitation by Including a Benchmark Good. Nashville, TN: American Economic Association [publisher], 2022. Ann Arbor, MI: Inter-university Consortium for Political and Social Research [distributor], 2022-04-07. https://doi.org/10.3886/E159881V1
Project Description
Summary:
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Abstract: We propose and validate a simple way to augment the
standard Becker-DeGroot-Marschak method that researchers use to elicit
willingness to pay (WTP) for a good. The augmentation is to measure WTP for
another good (“benchmark good''), one unrelated to both the good the researcher
is interested in and the independent variables of interest, and to use WTP for
the benchmark good as a control variable in analyses. We illustrate the method
and how it can eliminate noise in measured WTP using data collected in Uganda.
Scope of Project
JEL Classification:
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I32 Measurement and Analysis of Poverty
J13 Fertility; Family Planning; Child Care; Children; Youth
O12 Microeconomic Analyses of Economic Development
I32 Measurement and Analysis of Poverty
J13 Fertility; Family Planning; Child Care; Children; Youth
O12 Microeconomic Analyses of Economic Development
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