In search of a preferred preference elicitation method: A test of the internal consistency of choice and matching tasks
Journal of Economic Psychology , Volume 39 p. 126- 140
The numerous reports on preference reversals in preference elicitations pose a great challenge to empirical economics. Many studies have found that different tasks may generate substantially different preferences. However, little is known about whether one task is more susceptible to preference reversals than another. Therefore, taking the preference reversals as a robust behavioral pattern, guidelines are called for to provide directions regarding a preferred preference elicitation task. This paper puts forward a new test of the internal consistency of choice and matching tasks, based on ‘‘internal preference reversals’’. We replicate the preference reversal phenomenon and find a significantly higher consistency within choice tasks than within matching tasks.
|internal consistency, loss aversion, preference reversal, scale compatibility, time tradeoff method|
|Economic Methodology: General (jel B40), Laboratory, Individual Behavior (jel C91), Health: General (jel I10)|
|Journal of Economic Psychology|
|Organisation||Erasmus School of Health Policy & Management (ESHPM)|
Attema, A.E, & Brouwer, W.B.F. (2013). In search of a preferred preference elicitation method: A test of the internal consistency of choice and matching tasks. Journal of Economic Psychology, 39, 126–140. doi:10.1016/j.joep.2013.07.009