Publication details for Prof Morten Lau

Andersen, S., Harrison, G.W., Lau, M.I. & Rutström, E.E. (2010). Preference Heterogeneity in Experiments: Comparing the Field and Lab. Journal of Economic Behavior and Organization 73(2): 209-224.

• Publication type: Journal papers: academic
• ISSN/ISBN: 0167-2681
• DOI: 10.1016/j.jebo.2009.09.006
• Keywords: Field experiments, Laboratory experiments, Preferences, Risk aversion, Discount rates.
• View online: Online version
• Durham research online: DRO record

Author(s) from Durham

• Prof Morten Lau

Abstract

Do laboratory experiments provide a reliable basis for measuring field preferences? Economists recognize that preferences can differ across individuals, but only a few attempts have been made to elicit individual preferences for representative samples of a population in a particular geographical area, region or country. Our primary objective is to directly compare estimates of preferences elicited from a convenience sample and the estimates for the wider population from which that sample is drawn. We examine the strengths and weaknesses of laboratory and field experiments to detect differences in preferences over risk and time that are associated with standard, observable characteristics of the individual.