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We investigate whether the value of time (VOT) depends on when the corresponding preferences are measured: in advance, just before, or after the time period for which the time preferences are being evaluated. We find that the VOT is highest when elicited just before the time period. This is an...
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experiment marine recreational fishing data. We combine RP data from the Marine Recreational Information Program (MRIP) creel … multicollinearity. The SP data can suffer from hypothetical bias, which often manifests itself as bias in the cost coefficient. There … lower than the RP travel cost coefficient in absolute value, suggesting hypothetical bias in the SP data. This difference is …
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Hypothetical bias is a long-standing issue in stated preference and contingent valuation studies - people tend to … hypothetical bias in demand elicitation exercises for both IV and HG values. For testbed purpose, we use a classic second …-price auction to elicit preferences. Comparing the demand curve we elicit in both, hypothetical bias unambiguously (i) vanishes in …
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