Imagine you want to understand the importance of bio diversity in a green space- what would stakeholders be willing to trade for green space properties, and how would you measure it? This is where a Discrete Choice Experiment (DCE) comes into its own!
❓But what exactly is a DCE? And if you're thinking of using one to understandthe preferences of consumers or stakeholders, what do you need to consider?
Here are the highlights:
In a DCE, we present people with different scenarios, and they are asked to select between them.
✔ Keep it simple and be clear on the attributes you're interested in.
✔ Be mindful of the range of attributes - levels must differ between the scenarios.
✔ Test it out! Before you roll it out, run a pilot, and be sure to incorporate feedback.
Our team have run DCEs to value different environment related outcomes, such as the proximity of green space and the availability of cyclinglanes/walking paths. But there are loads of possibilities!
Want to run a DCE? Need some advice? Get in touch with us today! Book a 1-1 with Chief Economist EdwardDallas to find out more.
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