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 …

. Applications of these techniques have been criticised because of the hypothetical nature of the surveys and the possibility of bias …. Various types of bias have been cited including strategic, payment vehicle, starting point, interviewer and others. However …, one type of bias that has received limited attention, but has the potential to have substantial impacts on value estimates …