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An Improved Method for Calibrating Purchase Intentions in Stated Preference Demand Models

Author

Listed:
  • Davies, Stephen P.
  • Loomis, John B.

Abstract

The Orbit demand model allows the magnitude of the calibration to stated purchase intentions to vary based on the magnitude of the stated quantities. Using an empirical example of stated trips, we find that the extent of calibration varies substantially with less correction needed at small stated trips (–25%) but larger corrections at higher quantities of stated visits (–48%). We extend the Orbit model to calculate consumer surplus per stated trip of $26. Combining the calibrations in stated trips and value per trip, the Orbit model provides estimates of annual benefits from 60% to 111% less than the count data model.

Suggested Citation

  • Davies, Stephen P. & Loomis, John B., 2010. "An Improved Method for Calibrating Purchase Intentions in Stated Preference Demand Models," Journal of Agricultural and Applied Economics, Southern Agricultural Economics Association, vol. 42(4), pages 1-15, November.
  • Handle: RePEc:ags:joaaec:100521
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    File URL: http://ageconsearch.umn.edu/record/100521/files/jaae317.pdf
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    Citations

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    Cited by:

    1. Helga Fehr-Duda & Robin Schimmelpfennig, 2018. "Wider die Zahlengläubigkeit: Sind Befragungsergebnisse eine gute Grundlage für wirtschaftspolitische Entscheidungen?," ECON - Working Papers 297, Department of Economics - University of Zurich, revised Dec 2018.
    2. Ewa Zawojska & Pierre-Alexandre Mahieu & Romain Crastes & Jordan Louviere, 2016. "On a way to overcome strategic overbidding in open-ended stated preference surveys: A recoding approach," Working Papers 2016-34, Faculty of Economic Sciences, University of Warsaw.
    3. repec:eee:eejocm:v:28:y:2018:i:c:p:153-166 is not listed on IDEAS
    4. Loomis, John B., 2014. "2013WAEA Keynote Address: Strategies for Overcoming Hypothetical Bias in Stated Preference Surveys," Journal of Agricultural and Resource Economics, Western Agricultural Economics Association, vol. 39(1), pages 1-13, April.
    5. Fifer, Simon & Rose, John M., 2016. "Can you ever be certain? Reducing hypothetical bias in stated choice experiments via respondent reported choice certaintyAuthor-Name: Beck, Matthew J," Transportation Research Part B: Methodological, Elsevier, vol. 89(C), pages 149-167.

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