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Measuring Hypothetical Bias in Choice Experiments: The Importance of Cognitive Consistency

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Author Info

  • Johansson-Stenman Olof

    () (University of Gothenburg)

  • Svedsäter Henrik

    () (London Business School)

Abstract

A choice experiment eliciting environmental values with both real and hypothetical trade-offs is set up in order to test for hypothetical bias. A larger hypothetical bias was found in a between-subject than in a within-subject design, using otherwise identical scenarios, which can explain previous diverging results in the literature. We argue that people strive for consistency between their attitudes and behaviors, leading them to act in ways that correspond with their prior hypothetical statements. People hence seem to prefer to do what they say they would do, although this may not always reflect their true preferences regarding the good being valued.

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File URL: http://www.degruyter.com/view/j/bejeap.2008.8.1/bejeap.2008.8.1.1898/bejeap.2008.8.1.1898.xml?format=INT
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Bibliographic Info

Article provided by De Gruyter in its journal The B.E. Journal of Economic Analysis & Policy.

Volume (Year): 8 (2008)
Issue (Month): 1 (September)
Pages: 1-10

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Handle: RePEc:bpj:bejeap:v:8:y:2008:i:1:n:41

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Cited by:
  1. Frode Alfnes & Chengyan Yue & Helen H. Jensen, 2009. "Cognitive Dissonance as a Means of Reducing Hypothetical Bias," Center for Agricultural and Rural Development (CARD) Publications 09-wp486, Center for Agricultural and Rural Development (CARD) at Iowa State University.
  2. Carlsson, Fredrik & Kataria, Mitesh & Krupnick, Alan & Lampi, Elina & Löfgren, Åsa & Qin, Ping & Sterner, Thomas, 2013. "A fair share: Burden-sharing preferences in the United States and China," Resource and Energy Economics, Elsevier, vol. 35(1), pages 1-17.
  3. Carlsson, Fredrik & García, Jorge H. & Löfgren, Åsa, 2008. "Conformity and the demand for environmental goods," Working Papers in Economics 286, University of Gothenburg, Department of Economics.
  4. Karagözoğlu Emin, 2010. "A Dynamic Model of Decision-making Under Cognitive Dissonance and Modularity of Mind," Research Memoranda 014, Maastricht : METEOR, Maastricht Research School of Economics of Technology and Organization.
  5. Craig E. Landry & Paul Hindsley & Okmyung Bin & Jamie B. Kruse & John C. Whitehead & Kenneth R. Wilson, 2009. "Weathering the Storm: Measuring Household Willingness-to-Pay for Risk-Reduction in Post-Katrina New Orleans," Working Papers 09-18, Department of Economics, Appalachian State University.
  6. Shi, Lijia & House, Lisa & Gao, Zhifeng, 2011. "Consumer WTP for Blueberry Attributes: A Hierarchical Bayesian Approach in the WTP Space," 2011 Annual Meeting, July 24-26, 2011, Pittsburgh, Pennsylvania 103524, Agricultural and Applied Economics Association.
  7. Kimberly Scharf & Sarah Smith, 2011. "Rational Inattention to Subsidies for Charitable Contributions," The Centre for Market and Public Organisation 11/269, Department of Economics, University of Bristol, UK.
  8. Fredrik Carlsson, 2010. "Design of Stated Preference Surveys: Is There More to Learn from Behavioral Economics?," Environmental & Resource Economics, European Association of Environmental and Resource Economists, vol. 46(2), pages 167-177, June.
  9. Jacob Ladenburg & Jens Olav Dahlgaard & Ole Bonnichsen, 2010. "Testing the Effect of a Short Cheap Talk Script in Choice Experiments," IFRO Working Paper 2010/11, University of Copenhagen, Department of Food and Resource Economics.
  10. Søren Olsen & Thomas Lundhede & Jette Jacobsen & Bo Thorsen, 2011. "Tough and Easy Choices: Testing the Influence of Utility Difference on Stated Certainty-in-Choice in Choice Experiments," Environmental & Resource Economics, European Association of Environmental and Resource Economists, vol. 49(4), pages 491-510, August.
  11. Moser, Riccarda & Raffaelli, Roberta & Notaro, Sandra, 2010. "The Role Of Production Methods In Fruit Purchasing Behaviour: Hypothetical Vs Actual Consumers’ Preferences And Stated Minimum Requirements," 115th Joint EAAE/AAEA Seminar, September 15-17, 2010, Freising-Weihenstephan, Germany 116426, European Association of Agricultural Economists.

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