@article{421f08475c9848d5ab1f52e1ac1122f3,
title = "Preferences for intrinsically risky attributes",
abstract = "Incentivized experiments and stated preference methods are commonly viewed as substitutes in preference elicitation. We leverage the distinct strengths of each approach by combining a fully incentivized risk experiment with a stated preference survey to model utility for intrinsically risky attributes. A door-to-door survey of 981 participants in a drought-prone region elicits preferences for alternative sources of municipal water, conditional on water price and quality. Participants' observed and imputed risk attitudes are incorporated into preference estimation. Our results are consistent with the hypothesis that participants are concerned about water supply risk, but not about new technology risk. (JEL C51, D81).",
author = "Lecturer, {Zack Dorner} and Brent, {Daniel A.} and Anke Leroux",
note = "Funding Information: The authors are grateful for helpful comments from Ian Bateman, Gaurav Datt, Lata Gangadharan, Robert Johnston, Paul Raschky, John Rolfe, Liang Choon Wang, Michael Ward, participants at the 2016 AARES, AAEA, EAERE conferences, and the Australian Environmental Economics Workshop that greatly improved the paper. The comments from the anonymous review were also highly valuable. Funding from the Cooperative Research Centre for Water Sensitive Cities (CRC grant number 20110044) is acknowledged. This project has been approved by the Monash University Human Research Ethics Committee; MUHREC\#: CF12/2511-2912001358. Funding Information: 9The Cooperative Research Centre for Water Sensitive Cities is an Australian research organization funded by the federal government. Publisher Copyright: {\textcopyright} 2019 by the Board of Regents of the University of Wisconsin System.",
year = "2019",
month = nov,
day = "1",
doi = "10.3368/le.95.4.494",
language = "English (US)",
volume = "95",
pages = "494--514",
journal = "Land Economics",
issn = "0023-7639",
publisher = "University of Wisconsin Press",
number = "4",
}
