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Does ‘price framing’ influence empirical estimates in Discrete Choice Experiments: The case study for the South African wine industry

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  • Lydia Chikumbi
  • Milan Scasny

Abstract

The approach and survey used to examine non-market value in a stated preference study can influence the outcomes and impact the validity and reliability of value estimates. While prior research has investigated the impact of ‘price framing’ on decision-making in other disciplines, (i.e. marketing & psychology), little is known about its validity and reliability in […]

Suggested Citation

  • Lydia Chikumbi & Milan Scasny, "undated". "Does ‘price framing’ influence empirical estimates in Discrete Choice Experiments: The case study for the South African wine industry," Working Papers 878, Economic Research Southern Africa.
    • Handle: RePEc:rza:wpaper:878
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    Keywords

    choice experiment; Quantitative Methods;

    JEL classification:

    • C25 - Mathematical and Quantitative Methods - - Single Equation Models; Single Variables - - - Discrete Regression and Qualitative Choice Models; Discrete Regressors; Proportions; Probabilities
    • D91 - Microeconomics - - Micro-Based Behavioral Economics - - - Role and Effects of Psychological, Emotional, Social, and Cognitive Factors on Decision Making

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