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Criterion and Predictive Validity of Revealed and Stated Preference Data: The Case of Music Concert Demand

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Author Info

  • John C. Whitehead
  • Douglas Noonan
  • Elizabeth Marquardt

Abstract

We 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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File URL: http://econ.appstate.edu/RePEc/pdf/wp1205.pdf
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Bibliographic Info

Paper provided by Department of Economics, Appalachian State University in its series Working Papers with number 12-05.

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Date of creation: 2012
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Handle: RePEc:apl:wpaper:12-05

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Postal: Thelma C. Raley Hall, Boone, North Carolina 28608
Phone: 828-262-2148
Fax: 828-262-6105
Web page: http://www.business.appstate.edu/departments/economics/
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  1. Jeffrey Englin & Trudy Cameron, 1996. "Augmenting travel cost models with contingent behavior data," Environmental & Resource Economics, European Association of Environmental and Resource Economists, vol. 7(2), pages 133-147, March.
  2. John List & Craig Gallet, 2001. "What Experimental Protocol Influence Disparities Between Actual and Hypothetical Stated Values?," Environmental & Resource Economics, European Association of Environmental and Resource Economists, vol. 20(3), pages 241-254, November.
  3. Dickie, M. & Fisher, A. & Gerking, S.D., 1987. "Market transactions and hypothetical demand data: A comparative study," Open Access publications from Tilburg University urn:nbn:nl:ui:12-4628501, Tilburg University.
  4. John Whitehead, 2005. "Environmental Risk and Averting Behavior: Predictive Validity of Jointly Estimated Revealed and Stated Behavior Data," Environmental & Resource Economics, European Association of Environmental and Resource Economists, vol. 32(3), pages 301-316, November.
  5. W. Douglass Shaw, 2002. "Testing the Validity of Contingent Behavior Trip Responses," American Journal of Agricultural Economics, Agricultural and Applied Economics Association, vol. 84(2), pages 401-414.
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Cited by:
  1. John Whitehead & Melissa S. Weddell & Pete Groothuis, 2014. "Mitigating Hypothetical Bias in Stated Preference Data: Evidence from Sports Tourism," Working Papers 14-06, Department of Economics, Appalachian State University.

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