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Real choices and hypothetical choices

In: Handbook of Choice Modelling

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  • Glenn W. Harrison

Abstract

There is evidence that behavior changes when individuals make choices over hypothetical scenarios and stakes rather than real scenarios and stakes. What is the nature of this evidence, and how significant is it for different types of inferences? In particular, does it follow that “stated preferences” inferred from hypothetical choices differ all that much from the “preferences revealed” by real choices? What survey methods can better approximate real choices? What econometric methods allow one to pool hypothetical and real choices, when appropriate? Is the bias between real and hypothetical choices transferable from setting to setting?

Suggested Citation

  • Glenn W. Harrison, 2024. "Real choices and hypothetical choices," Chapters, in: Stephane Hess & Andrew Daly (ed.), Handbook of Choice Modelling, chapter 9, pages 246-275, Edward Elgar Publishing.
    • Handle: RePEc:elg:eechap:20188_9
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    2. Chetty, Rinelle & Hofmeyr, Andre & Kincaid, Harold & Monroe, Brian, 2021. "The Trust Game Does Not (Only) Measure Trust: The Risk-Trust Confound Revisited," Journal of Behavioral and Experimental Economics (formerly The Journal of Socio-Economics), Elsevier, vol. 90(C).
    3. Buckell, John & Hess, Stephane, 2019. "Stubbing out hypothetical bias: improving tobacco market predictions by combining stated and revealed preference data," Journal of Health Economics, Elsevier, vol. 65(C), pages 93-102.
    4. Gangadharan, Lata & Harrison, Glenn W. & Leroux, Anke D., 2019. "Are risks over multiple attributes traded off? A case study of aid," Journal of Economic Behavior & Organization, Elsevier, vol. 164(C), pages 166-198.
    5. Buckell, John & White, Justin S. & Shang, Ce, 2020. "Can incentive-compatibility reduce hypothetical bias in smokers’ experimental choice behavior? A randomized discrete choice experiment," Journal of choice modelling, Elsevier, vol. 37(C).
    6. John Buckell & Joachim Marti & Jody L. Sindelar, 2017. "Should Flavors be Banned in E-cigarettes? Evidence on Adult Smokers and Recent Quitters from a Discrete Choice Experiment," NBER Working Papers 23865, National Bureau of Economic Research, Inc.
    7. Finocchiaro Castro, Massimo & Guccio, Calogero & Romeo, Domenica, 2025. "Assessing risk attitudes among physicians, medical students, and non-medical students with experimental data," Journal of Behavioral and Experimental Economics (formerly The Journal of Socio-Economics), Elsevier, vol. 117(C).
    8. Tsakas, Elias, 2020. "Robust scoring rules," Theoretical Economics, Econometric Society, vol. 15(3), July.
    9. Raux, Charles & Chevalier, Amandine & Bougna, Emmanuel & Hilton, Denis, 2021. "Mobility choices and climate change: Assessing the effects of social norms, emissions information and economic incentives," Research in Transportation Economics, Elsevier, vol. 90(C).
    10. Askill H. Halse & Stefan Flügel & Marco Kouwenhoven & Gerard Jong & Hanne B. Sundfør & Nina Hulleberg & Guri N. Jordbakke & Henrik Lindhjem, 2024. "Correction to: A minute of your time: The impact of survey recruitment method and interview location on the value of travel time," Transportation, Springer, vol. 51(3), pages 1173-1173, June.
    11. Kassas, Bachir & Palma, Marco A. & Zhang, Yvette, 2016. "The role of incentives on preference revelations in auctions versus rankings," Journal of choice modelling, Elsevier, vol. 20(C), pages 73-85.
    12. Fosgerau, Mogens & Börjesson, Maria, 2015. "Manipulating a stated choice experiment," Journal of choice modelling, Elsevier, vol. 16(C), pages 43-49.

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