THE IMPLICATIONS ON WILLINGNESS TO PAY OF RESPONDENTS IGNORING SPECIFIC ATTRIBUTES

Stated Choice (SC) experiments offer the participants a number of alternatives to assess, from which they choose the most preferred alternative (choosing 'none of the above' is also sometimes offered). Assessment of data gleaned from SC experiments is analyzed as if all choices were considered prior to the choice being made. This article reports on a study that considers that individuals process choice situations in many ways and may ignore specific attributes as a coping strategy for the complexity of the problem. The authors investigate the implications of an individual putting boundaries on the information processing task by attribute elimination through ignoring or not attending to them They investigate the influence on willingness to pay (WTP) of an individual stating that they ignored one or more attributes of an SC experiment. Using a sample of car commuters in Sydney (Australia), the authors estimate two mixed logit models: one that treats all attributes as candidate contributors and one which explicitly recognizes that subsets of attributes for each individual are ignored or not attended to in their choices (based on supplementary information provided by respondents). The authors compare the value of travel time savings (VTTS) under these two information (or pre-choice behavior) processing regimes to conclude that the two processes result in significantly different mean valuations of travel time savings.

  • Availability:
  • Authors:
    • Hensher, D A
    • Rose, J
    • Greene, W H
  • Publication Date: 2005-5

Language

  • English

Media Info

Subject/Index Terms

Filing Info

  • Accession Number: 00987563
  • Record Type: Publication
  • Files: TRIS, ATRI
  • Created Date: Mar 30 2005 12:00AM