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Can Calibration Reconcile Stated and Observed Preferences?

  • Norwood, F. Bailey

Hypothetical bias is a pervasive problem in stated-preference experiments. Recent research has developed two empirically successful calibrations to remove hypothetical bias, though the calibrations have not been tested using the same data or in a conjoint analysis. This study compares the two calibrations in a conjoint analysis involving donations to a public good. Results find the calibrations are biased predictors of true donations but that calibrated and uncalibrated models together provide upper and lower bounds to true donations.

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Article provided by Southern Agricultural Economics Association in its journal Journal of Agricultural and Applied Economics.

Volume (Year): 37 (2005)
Issue (Month): 01 (April)

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Handle: RePEc:ags:joaaec:43735
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  1. Messer, Kent D. & Kaiser, Harry M. & Schulze, William D., 2004. "Status Quo Bias and Voluntary Contributions: Can Lab Experiments Parallel Real World Outcomes for Generic Advertising?," Research Bulletins 122094, Cornell University, Department of Applied Economics and Management.
  2. John List & Richard Hofler, 2004. "Valuation on the frontier: Calibrating actual and hypothetical statements of value," Framed Field Experiments 00159, The Field Experiments Website.
  3. Blumenschein, Karen & Johannesson, Magnus & Yokoyama, Krista K. & Freeman, Patricia R., 2001. "Hypothetical versus real willingness to pay in the health care sector: results from a field experiment," Journal of Health Economics, Elsevier, vol. 20(3), pages 441-457, May.
  4. 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.
  5. Christian A. Vossler & Robert G. Ethier & Gregory L. Poe & Michael P. Welsh, 2003. "Payment Certainty in Discrete Choice Contingent Valuation Responses: Results from a Field Validity Test," Southern Economic Journal, Southern Economic Association, vol. 69(4), pages 886-902, April.
  6. Patricia Champ & Richard Bishop, 2001. "Donation Payment Mechanisms and Contingent Valuation: An Empirical Study of Hypothetical Bias," Environmental & Resource Economics, European Association of Environmental and Resource Economists, vol. 19(4), pages 383-402, August.
  7. Gregory Poe & Jeremy Clark & Daniel Rondeau & William Schulze, 2002. "Provision Point Mechanisms and Field Validity Tests of Contingent Valuation," Environmental & Resource Economics, European Association of Environmental and Resource Economists, vol. 23(1), pages 105-131, September.
  8. Winn, Chris & Norwood, F. Bailey & Chung, Chanjin & Ward, Clement E., 2004. "Surveying the Feasibility of a Voluntary Beef Checkoff," 2004 Annual meeting, August 1-4, Denver, CO 20385, American Agricultural Economics Association (New Name 2008: Agricultural and Applied Economics Association).
  9. Karen Blumenschein & Magnus Johannesson & Glenn C. Blomquist & Bengt Liljas & Richard M. O’Conor, 1998. "Experimental Results on Expressed Certainty and Hypothetical Bias in Contingent Valuation," Southern Economic Journal, Southern Economic Association, vol. 65(1), pages 169-177, July.
  10. Nouhoun Coulibaly & B. Wade Brorsen, 1999. "Explaining the differences between two previous meat generic advertising studies," Agribusiness, John Wiley & Sons, Ltd., vol. 15(4), pages 501-515.
  11. Norwood, F. Bailey & Lusk, Jayson L. & Brorsen, B. Wade, 2004. "Model Selection for Discrete Dependent Variables: Better Statistics for Better Steaks," Journal of Agricultural and Resource Economics, Western Agricultural Economics Association, vol. 29(03), December.
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