Can ranking techniques elicit robust values?

Bateman, Ian, Day, Brett, Loomes, Graham and Sugden, Robert (2007) Can ranking techniques elicit robust values? Journal of Risk and Uncertainty, 34 (1). pp. 49-66. ISSN 0895-5646

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Abstract

This paper reports two experiments which examine the use of ranking methods to elicit ‘certainty equivalent’ values. It investigates whether such methods are able to eliminate the disparities between choice and value which constitute the ‘preference reversal phenomenon’ and which thereby pose serious problems for both theory and policy application. The results show that ranking methods are vulnerable to distorting effects of their own, but that when such effects are controlled for, the preference reversal phenomenon, previously so strong and striking, is very considerably attenuated.

Item Type:	Article
Faculty \ School:	Faculty of Science > School of Environmental Sciences Faculty of Social Sciences > School of Economics
UEA Research Groups:	Faculty of Social Sciences > Research Groups > Economic Theory Faculty of Social Sciences > Research Groups > Behavioural Economics Faculty of Social Sciences > Research Centres > Centre for Competition Policy Faculty of Social Sciences > Research Centres > Centre for Behavioural and Experimental Social Sciences
Depositing User:	Vishal Gautam
Date Deposited:	01 Feb 2007
Last Modified:	21 Apr 2023 19:31
URI:	https://ueaeprints.uea.ac.uk/id/eprint/16333
DOI:	10.1007/s11166-006-9003-4

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