Do Hypothetical Choices and Non-Choice Ratings Reveal Preferences?
AbstractWe develop a method for determining likely responses to a change in some economic condition (e.g., a policy) for settings in which either similar changes have not been observed, or it is challenging to identify observable exogenous causes of past changes. The method involves estimating statistical relationships across decision problems between choice frequencies and variables measuring non-choice reactions, and using those relationships along with additional non-choice data to predict choice frequencies under the envisioned conditions. In an experimental setting, we demonstrate that this method yields accurate measures of behavioral responses, while more standard methods are either inapplicable or highly inaccurate.
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Bibliographic InfoPaper provided by National Bureau of Economic Research, Inc in its series NBER Working Papers with number 19269.
Date of creation: Aug 2013
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- C91 - Mathematical and Quantitative Methods - - Design of Experiments - - - Laboratory, Individual Behavior
- D12 - Microeconomics - - Household Behavior - - - Consumer Economics: Empirical Analysis
- H31 - Public Economics - - Fiscal Policies and Behavior of Economic Agents - - - Household
- Q51 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Environmental Economics - - - Valuation of Environmental Effects
This paper has been announced in the following NEP Reports:
- NEP-ALL-2013-08-05 (All new papers)
- NEP-DCM-2013-08-05 (Discrete Choice Models)
- NEP-EXP-2013-08-05 (Experimental Economics)
- NEP-UPT-2013-08-05 (Utility Models & Prospect Theory)
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