Testing Preference Axioms in Discrete Choice experiments: A Reappraisal
AbstractRecent studies have tested the preference axioms of completeness and transitivity, and have detected other preference phenomena such as unstability, learning- and tiredness effects, ordering effects and dominance, in stated preference discrete choice experiments. However, it has not been explicitly addressed in these studies which preference models are actually being tested, and the connection between the statistical tests performed and the relevant underlying models of respondent behavior has not been explored further. This paper tries to fill that gap. We specifically analyze the meaning and role of the preference axioms and other preference phenomena in the context of stated preference discrete choice experiments, and examine whether or how these can be subject to meaningful (statistical) tests.
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Bibliographic InfoPaper provided by University of Copenhagen. Department of Economics in its series Discussion Papers with number 06-11.
Length: 20 pages
Date of creation: Jun 2006
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stated preference discrete choice experiments; completeness; transitivity; random utility; statistical tests;
Find related papers by JEL classification:
- B41 - Schools of Economic Thought and Methodology - - Economic Methodology - - - Economic Methodology
- C52 - Mathematical and Quantitative Methods - - Econometric Modeling - - - Model Evaluation, Validation, and Selection
- D01 - Microeconomics - - General - - - Microeconomic Behavior: Underlying Principles
This paper has been announced in the following NEP Reports:
- NEP-ALL-2006-06-17 (All new papers)
- NEP-CBE-2006-06-17 (Cognitive & Behavioural Economics)
- NEP-DCM-2006-06-17 (Discrete Choice Models)
- NEP-EXP-2006-06-17 (Experimental Economics)
- NEP-UPT-2006-06-17 (Utility Models & Prospect Theory)
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
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- Ruud H. Koning & Geert Ridder, 2003.
"Discrete choice and stochastic utility maximization,"
Royal Economic Society, vol. 6(1), pages 1-27, 06.
- Ruud H Koning & Geert Ridder, 1999. "Discrete Choice and Stochastic Utility Maximization," Economics Working Paper Archive 413, The Johns Hopkins University,Department of Economics.
- Kjartan Sælensminde, 2002. "The Impact of Choice Inconsistencies in Stated Choice Studies," Environmental & Resource Economics, European Association of Environmental and Resource Economists, vol. 23(4), pages 403-420, December.
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