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Persistent link: https://www.econbiz.de/10008480846
I collect data on subjects’ risk attitudes using real and hypothetical risky choices. I also measure their cognitive ability using the cognitive reflective test (CRT). On average, measured risk preferences are not significantly different across real and hypothetical settings. However,...
Persistent link: https://www.econbiz.de/10010987816
bias’ concern (i.e. the belief that WTP values overstate real preferences) is a remaining anxiety. This paper reports new …‐management health care context; the hypothetical bias hypothesis is not supported by our data. The generalisability of these results to …
Persistent link: https://www.econbiz.de/10008741244
randomized field experiment. The treatment increases consequentiality in the field by making each decision financially relevant …
Persistent link: https://www.econbiz.de/10011100042
Persistent link: https://www.econbiz.de/10010987551
Hypothetical bias is a pervasive problem in stated-preference experiments. Recent research has developed two … empirically successful calibrations to remove hypothetical bias, though the calibrations have not been tested using the same data …
Persistent link: https://www.econbiz.de/10005801948
reports the results of a meta-analysis of hypothetical bias in 28 stated preference valuation studies that report monetary …. We find that a choice-based elicitation mechanism is important in reducing bias. We provide some evidence that the use of … student subjects may be a source of bias, but since this variable is highly correlated with group experimental settings, firm …
Persistent link: https://www.econbiz.de/10005722123
The Orbit demand model allows the magnitude of the calibration to stated purchase intentions to vary based on the magnitude of the stated quantities. Using an empirical example of stated trips, we find that the extent of calibration varies substantially with less correction needed at small...
Persistent link: https://www.econbiz.de/10008853634
An important consideration in managing fire-prone forests is the intertemporal impacts of forest fires. This analysis examines these impacts in a forest recreation setting by fitting a combined stated and revealed data set to explicitly model the effects of forest regrowth following a fire on...
Persistent link: https://www.econbiz.de/10005525456
Overall wine consumption in Spain is decreasing while, at the same time, Designation of Origin (DO) wine consumption is increasing gradually. This study examines Spanish DO wine consumer behaviour through stated preferences (SP) and revealed preferences (RP) data. Part-worth utilities are...
Persistent link: https://www.econbiz.de/10005503321