Stated values and reminders of substitute goods: Testing for framing effects with choice modelling

Abstract

Choice modelling, a non‐market valuation technique, is used to explore framing issues in the context of environmental valuations. Choice modelling appears to have promise in simultaneously valuing a pool of substitute amenities and goods. Describing choices according to component attributes can also help to frame choices according to a number of trade‐offs. The statistical information available helps to determine where framing effects have occurred. Three choice modelling experiments were reviewed to show that framing effects may be more widespread in non‐market valuation studies than is commonly thought.