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Combining Revealed and Stated Preferences: Consistency Tests and Their Interpretations

Author

Listed:
  • Christopher D. Azevedo
  • Joseph A. Herriges
  • Catherine L. Kling

Abstract

This article models the recreation demand for Iowa wetlands, combining survey data on both actual usage patterns (i.e., revealed preferences (RPs)) and anticipated changes to those patterns under hypothetical increases in trip costs (i.e., stated preferences (SPs)). We formulate and test specific hypotheses concerning potential sources of bias in each approach and discuss what can be learned about the validity of the models from such tests. Copyright 2003, Oxford University Press.

Suggested Citation

  • Christopher D. Azevedo & Joseph A. Herriges & Catherine L. Kling, 2003. "Combining Revealed and Stated Preferences: Consistency Tests and Their Interpretations," American Journal of Agricultural Economics, Agricultural and Applied Economics Association, vol. 85(3), pages 525-537.
    • Handle: RePEc:oup:ajagec:v:85:y:2003:i:3:p:525-537
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    File URL: http://hdl.handle.net/10.1111/1467-8276.00453
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