Are Stated Preferences Good Predictors of Market Behavior?
Using an economic experiment in conjunction with a survey, we analyze whether consumers' hypothetical willingness-to-pay responses are effective predictors of actual market behavior. We model revealed preferences as a function of socio-demographic characteristics and instrumental variables that repr...
| Publicado en: | Land Economics Vol. 79; no. 1; pp. 44 - 56 |
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| Autores principales: | , , |
| Formato: | Artículo |
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University of Wisconsin Press
February 2003
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| Acceso en línea: | Ver este registro en EBSCOhost |
| fields | @attributes: recordID: 1 pdfLink: plink: https://search.ebscohost.com/login.aspx?direct=true&db=ssf&AN=510303920&site=ehost-live header: @attributes: shortDbName: ssf uiTerm: 510303920 longDbName: Social Sciences Full Text (H.W. Wilson) uiTag: AN controlInfo: bkinfo: jinfo: jid: 00237639 LAE jtl: Land Economics issn: 00237639 maglogo: N pubinfo: dt: February 2003 vid: 79 iid: 1 pid: 249 pub: University of Wisconsin Press artinfo: ui: 510303920 10.2307/3147104 ppf: 44 ppct: 12 formats: fmt: – @attributes: type: T – @attributes: type: P size: 1MB tig: atl: Are Stated Preferences Good Predictors of Market Behavior? aug: au: Loureiro, Maria L. McCluskey, Jill J. Mittelhammer, Ron C. su: Contingent valuation Consumer preferences sug: subj: Contingent valuation Consumer preferences ab: Using an economic experiment in conjunction with a survey, we analyze whether consumers' hypothetical willingness-to-pay responses are effective predictors of actual market behavior. We model revealed preferences as a function of socio-demographic characteristics and instrumental variables that represent the intensity of stated preferences. Our findings show that consumers who state that they are willing to pay a premium, which is equal to or greater than a positive lower bound, have a higher likelihood of actually buying the product in question. This implies that consumers' actions in the economic experiment validate their survey responses. Reprinted by permission of the publisher. pubtype: Academic Journal doctype: Article src: R language: English refInfo: copyright: @attributes: flag: N holdings: @attributes: islocal: N |
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