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INSPiRE SIGNED

The Influence of Information Search on Preference Formation and Choice

Total Cost €

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EC-Contrib. €

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Partnership

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Project "INSPiRE" data sheet

The following table provides information about the project.

Coordinator
THE UNIVERSITY OF STIRLING 

Organization address
address: .
city: STIRLING
postcode: FK9 4LA
website: www.stir.ac.uk

contact info
title: n.a.
name: n.a.
surname: n.a.
function: n.a.
email: n.a.
telephone: n.a.
fax: n.a.

 Coordinator Country United Kingdom [UK]
 Total cost 183˙454 €
 EC max contribution 183˙454 € (100%)
 Programme 1. H2020-EU.1.3.2. (Nurturing excellence by means of cross-border and cross-sector mobility)
 Code Call H2020-MSCA-IF-2017
 Funding Scheme MSCA-IF-EF-ST
 Starting year 2018
 Duration (year-month-day) from 2018-11-01   to  2020-10-31

 Partnership

Take a look of project's partnership.

# participants  country  role  EC contrib. [€] 
1    THE UNIVERSITY OF STIRLING UK (STIRLING) coordinator 183˙454.00

Map

 Project objective

Cost-benefit analyses are routinely used by policy makers when designing environmental policy to weigh the costs and benefits of different policy alternatives, and stated choice experiments are used to value the non-marketed costs and benefits included in such analyses. Standard practice in stated choice experiments is to create a hypothetical market environment in which people choose among competing policy alternatives under the assumptions that they have complete information about all available policy alternatives, and that they are perfectly rational and maximize utility based on a clearly defined set of preferences, which can be retrieved when needed in any choice situation. In reality, these assumptions are questionable. Drawing on accumulating evidence from economics, psychology and marketing, this project aims to understand how searching for information about policy alternatives affects stated preference formation, learning and choice, and the extent to which this can address hypothetical bias. The project develops a novel experimental procedure that addresses important issues in stated choice experiments and make significant and original methodological contributions that advance current practice beyond state-of-the-art in both experimental design and data analysis. Improving the reliability of stated choice experiments will lead to improved estimates of non-marketed costs and benefits included in cost-benefit analyses. Through a broad uptake and use of these methods by stated preference practitioners, and increased awareness among policy makers, the methodological developments in this project can lead to improved policy recommendations and implementation across the EU.

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The information about "INSPIRE" are provided by the European Opendata Portal: CORDIS opendata.

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