G2TT
来源类型Discussion paper
规范类型论文
来源IDDP17425
DP17425 The Value of Choice - Evidence from an Incentivized Survey Experiment
Hans Peter Grüner; Linnéa Marie Rohde
发表日期2022-07-02
出版年2022
语种英语
摘要Do people have a preference for making choices themselves, or do they prefer to choose a preselected alternative? If consumers value choice, recommender systems which facilitate choices might trigger consumers not to choose the recommendation - even when the other alternatives are less preferred. We conduct an incentivized survey experiment with a large sample from the German population, where participants choose between three lotteries. In the main treatment, participants make a choice between a preselected lottery and a two-element choice set, from which they then make an additional choice. We find that participants’ choices exhibit a bias towards the preselected alternative, and estimating a structural model reveals that the mean willingness to pay to make an additional choice is negative. Nevertheless, about 41% of the sample are estimated to have a positive value of choice. We show that measurable individual characteristics correlate with the preference for choice. Linking choices to the Big Five personality traits reveals that the preference for the preselected alternative increases in Openness. Moreover, we link participants’ preferences for choice to their political attitudes, showing that right-wing participants are more likely to prefer the preselected alternative than center-left participants.
主题Political Economy
URLhttps://cepr.org/publications/dp17425
来源智库Centre for Economic Policy Research (United Kingdom)
资源类型智库出版物
条目标识符http://119.78.100.153/handle/2XGU8XDN/546509
推荐引用方式
GB/T 7714
Hans Peter Grüner,Linnéa Marie Rohde. DP17425 The Value of Choice - Evidence from an Incentivized Survey Experiment. 2022.
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