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Can Calibration Reconcile Stated and Observed Preferences?

Published online by Cambridge University Press:  28 April 2005

F. Bailey Norwood
F. Bailey Norwood*
Affiliation:
Department of Agricultural Economics, Oklahoma State University, Stillwater, OK
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Abstract

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 or in a conjoint analysis. This study compares the two calibrations in a conjoint analysis involving donations to a public good. Results find the calibrations are biased predictors of true donations but that calibrated and uncalibrated models together provide upper and lower bounds to true donations.

Keywords

calibrationexperimental economicsforecastinghypothetical biaspublic goodsstated preferencevoluntary contributionsQ51H41
Type
Articles
Information
Journal of Agricultural and Applied Economics , Volume 37 , Issue 1 , April 2005 , pp. 237 - 248
Copyright
Copyright © Southern Agricultural Economics Association 2005

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