Would You Choose Your Preferred Option? Comparing Choice and Recoded Ranking Experiments

Abstract

Previous research has shown that results from a choice experiment are statistically different from those obtained from a ranking experiment that is recoded and treated as a choice experiment using only the first rank. By avoiding some of the shortcomings of previous comparisons, we obtain the opposite results using data from the valuation of a cork oak reforestation program in the south of Spain. Structural models and welfare estimations are statistically indistinguishable irrespective of the use of parametric or bootstrapping tests. Further, we employ follow-up questions and subsample analysis to test whether divergences appear when potential effects are isolated. Copyright 2008, Oxford University Press.

The marginal willingness-to-pay for attributes of a hypothetical HIV vaccine

“…The first ranked alternative is chosen from seven, the second ranked from six, and so on until the alternative ranked second to the last is selected from two remaining attributes. There exists a vast literature on choice modelling based on random utility theory that can be used to analyse ranking data of this sort [30,31]. The category of models of reference includes the multinomial logit and probit models [32,33] and its very numerous extensions [34].…”

A Latent Class Nested Logit Model for Rank-Ordered Data with Application to Cork Oak Reforestation

“…We analyze rank-ordered data which originate from the stated preference survey of Caparrós, Oviedo and Campos (2008). The data source study, however, did not exploit the rank-ordered data in full as it focused on the statistical comparison of implied choices from a rank ordering experiment with actual choices from a parallel (pick-one) choice experiment.…”

“…visitors to a particular location as in our study): a small target population size makes it inherently difficult to obtain an adequate sample size. It is therefore important to consider developing econometric methods for rank-ordered data, to complement the continual effort to understand better and improve ranking survey designs (Caparrós, Oviedo and Campos, 2008;Chang, Lusk and Norwood, 2009;Scarpa et al, 2011;Akaich, Nayga, and Gil, 2013;Louviere, Flynn and Marley, 2015). The existing approach to analyzing rank-ordered data usually exploits extensions and variants of the exploded logit (Chapman and Staelin, 1982), both within (Chang, Lusk and Norwood, 2009;Scarpa et al, 2011;Resano, Sanjuan and Albisu, 2012;Othman and Rahajeng, 2013;Varela et al, 2014) and outside (Fok, Paap and Van Dijk, 2012;Yoo and Doiron, 2013) the environmental valuation literature.…”

Monitoring Choice Task Attribute Attendance in Nonmarket Valuation of Multiple Park Management Services: Does It Matter?

“…Holmes and Boyle 2005;Caparros et al 2008). In choice-experiments, attributes are used to describe the salient traits of alternatives.…”