Criterion and Predictive Validity of Revealed and Stated Preference Data: The Case of Music Concert Demand
AbstractWe survey concert-goers during the season and gather revealed preference and ex-ante stated preference data. We then survey the same concert goers after the season and gather additional ex-post revealed preference data. Comparing ex-ante stated preference data to the ex-post revealed preference data we find respondents overstate their concert attendance behavior. An ex-ante revealed-stated preference demand model with a stated preference adjustment predicts the revealed preference concerts accurately. Key Words: Revealed preference, stated preference, criterion validity, predictive validity
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Bibliographic InfoPaper provided by Department of Economics, Appalachian State University in its series Working Papers with number 12-05.
Date of creation: 2012
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Postal: Thelma C. Raley Hall, Boone, North Carolina 28608
Web page: http://www.business.appstate.edu/departments/economics/
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Find related papers by JEL classification:
- Z1 - Other Special Topics - - Cultural Economics
- D1 - Microeconomics - - Household Behavior
- D6 - Microeconomics - - Welfare Economics
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