EMPIRICAL TESTS OF HYPOTHETICAL BIAS IN CONSUMERS' SURPLUS SURVEYS

Questionnaire surveys are an established economic research method for eliciting consumers' surplus values. However, the necessarily hypothetical nature of surveys may not promote truthful responses. In 17 empirical tests, actual money donations were elicited and compared to hypothetical donations elicited previously. In all 17, there was no statistical difference between the actual and hypothetical willingness to pay. Hypothetical bias was therefore absent in all these tests.