Working off of what marknt15 and MartinodF said, you should be able to use native DOM manipulation to do what you're trying to do without using eval()
.
var selected_option = "one";
var options = { "one": {"value": "0", "text":"OptionContents"} };
var e = document.createElement("option");
if(e.innerText) {// IE sets innerText like this
e.innerText = options[selected_option].text;
} else { // W3C sets inner text like this
e.childNodes[0].nodeValue = options[selected_option].text;
}
e.value = options[selected_option].value;
document.getElementById('price_select').appendChild(e);
You might want to consider using a full-featured JavaScript framework such as jQuery or Prototype to make things like this easier to handle though.