Journal
EUROPEAN REVIEW OF AGRICULTURAL ECONOMICS
Volume 46, Issue 1, Pages 3-27Publisher
OXFORD UNIV PRESS
DOI: 10.1093/erae/jby014
Keywords
induced-value preferences; home-grown preferences; artefactual field experiments; environmentally sustainable food; healthy food
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Funding
- Scottish Government - Rural Affairs and the Environment Strategic Research (RESAS)
- Chief Scientist Office of the Scottish Government Health and Care Directorates
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This paper tests if second-price Vickrey auction (SPVA) and discrete choice experiment (DCE) are isomorphic, and whether lack of isomorphism is due to value elicitation, value-formation or both. We conduct an artefactual field experiment that combines induced-value (IV) and home-grown (HG) procedures using SPVA and DCE. Induced-value preferences are elicited for tokens and HG preferences for multi-attribute lasagnes. Attributes are healthiness and environmental sustainability. Our results suggest that HG preferences differ across elicitation methods. This discrepancy is due to value-elicitation and value-formation. DCE is the most demand revealing approach and provides the highest premiums for healthy and environmentally sustainable lasagnes.
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