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Combining Revealed and Stated Preferences: Consistency Tests and Their Interpretations

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Author Info
Christopher D. Azevedo
Joseph A. Herriges
Catherine L. Kling

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Abstract

This article models the recreation demand for Iowa wetlands, combining survey data on both actual usage patterns (i.e., revealed preferences (RPs)) and anticipated changes to those patterns under hypothetical increases in trip costs (i.e., stated preferences (SPs)). We formulate and test specific hypotheses concerning potential sources of bias in each approach and discuss what can be learned about the validity of the models from such tests. Copyright 2003 American Agricultural Economics Association.

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Publisher Info
Article provided by American Agricultural Economics Association in its journal American Journal of Agricultural Economics.

Volume (Year): 85 (2003)
Issue (Month): 3 (08)
Pages: 525-537
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Handle: RePEc:bla:ajagec:v:85:y:2003:i:3:p:525-537

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  1. John C. Whitehead & Subhrendu K. Pattanayak & George L. Van Houtven & Brett R. Gelso, . "Combining Revealed and Stated Preference Data to Estimate the Nonmarket Value of Ecological Services: An Assessment of the State of the Science," Working Papers 05-19, Department of Economics, Appalachian State University. [Downloadable!]
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  2. Christopher Azevedo & John R. Crooker, 2008. "Alternative Approaches to Incorporating the Opportunity Cost of Time in Recreation Demand Models," Working Papers 0803, University of Central Missouri, Department of Economics & Finance, revised May 2008. [Downloadable!]
  3. Klytchnikova, Irina & Lokshin, Michael, 2007. "Measuring welfare gains from better quality infrastructure," Policy Research Working Paper Series 4217, The World Bank. [Downloadable!]
  4. Vandermersch, Mieke & Mathijs, Erik, 2004. "Consumer Willingness To Pay For Domestic Milk," Working Papers 31829, Katholieke Universiteit Leuven, Centre for Agricultural and Food Economics. [Downloadable!]
  5. Anna Alberini & Alberto Longo, 2006. "Combining the travel cost and contingent behavior methods to value cultural heritage sites: Evidence from Armenia," Journal of Cultural Economics, Springer, vol. 30(4), pages 287-304, December. [Downloadable!] (restricted)
  6. Davies, Steve & Loomis, John, 2006. "A New Approach to Correct for Hypothetical Bias in Stated Preference Models," 2006 Annual meeting, July 23-26, Long Beach, CA 21204, American Agricultural Economics Association (New Name 2008: Agricultural and Applied Economics Association). [Downloadable!]
  7. Anna Alberini & Valentina Zanatta & Paolo Rosato, 2005. "Combining Actual and Contingent Behavior to Estimate the Value of Sports Fishing in the Lagoon of Venice," Working Papers 2005.44, Fondazione Eni Enrico Mattei. [Downloadable!]
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  8. Anna Alberini & Alberto Longo, 2006. "The Value of Cultural Heritage Sites in Armenia: Evidence From a Travel Cost Method Study," ERSA conference papers ersa06p487, European Regional Science Association. [Downloadable!]
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  9. Daniel McFadden, 2009. "The human side of mechanism design: a tribute to Leo Hurwicz and Jean-Jacque Laffont," Review of Economic Design, Springer, vol. 13(1), pages 77-100, April. [Downloadable!] (restricted)
  10. Siikamaki, Juha & Layton, David F., 2006. "Discrete Choice Survey Experiments: A Comparison Using Flexible Models," Discussion Papers dp-05-60, Resources For the Future. [Downloadable!]
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