Combining Revealed and Stated Preferences: Consistency Tests and Their Interpretations
This article models the recreation demand for Iowa wetlands, combining survey data on both actual usage patterns (i.e., revealed preferences) and anticipated changes to those patterns under hypothetical increases in trip costs (i.e., stated preferences). 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.
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|Date of creation:||01 Jan 2003|
|Date of revision:|
|Publication status:||Published in American Journal of Agricultural Economics 2003, vol. 85 no. 3, pp. 525-537|
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Web page: http://www.econ.iastate.edu
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