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SUMMARY:Seminar by Avi Gannamaneni\, MIT
DTSTART:20180615T120000
DTEND:20180615T133000
DTSTAMP:20260405T201847Z
UID:5622b57c34275a5bc460c02696b5e68de2d01a41de403f7f8eeb5f25
CATEGORIES:Conferences - Seminars
DESCRIPTION:Avi Gannamaneni\, MIT\n"Using Massive Online Choice Experiment
 s to Measure Changes in Well-being"\n\nAbstract\nGDP and derived metrics (
 e.g.\, productivity) have been central to understanding economic progress 
 and well-being. In principle\, the change in consumer surplus (compensatin
 g expenditure) provides a superior\, and more direct\, measure of the chan
 ge in well-being\, especially for digital goods\, but in practice\, it has
  been difficult to measure. We explore the potential of massive online cho
 ice experiments to measure consumers’ willingness to accept compensation
  for losing access to various digital goods and thereby estimate the consu
 mer surplus generated from these goods. We test the robustness of the appr
 oach and benchmark it against established methods\, including incentive co
 mpatible choice experiments that require participants to give up Facebook 
 for a certain period in exchange for compensation. The proposed choice exp
 eriments show convergent validity and are massively scalable. Our results 
 indicate that digital goods have created large gains in well-being that ar
 e missed by conventional measures of GDP and productivity. By periodically
  querying a large\, representative sample of goods and services\, includin
 g those which are not priced in existing markets\, changes in consumer sur
 plus and other new measures of well-being derived from these online choice
  experiments have the potential for providing cost-effective supplements t
 o existing national income and product accounts.
LOCATION:ODY 4 03 https://plan.epfl.ch/?room==ODY%204%2003
STATUS:CONFIRMED
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