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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- 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.
- 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.
- 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:12-4742811, Tilburg University.
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