A Meta-analysis of Hypothetical Bias in Stated Preference Valuation

A Meta-analysis of Hypothetical Bias in Stated Preference Valuation

Strategies for Overcoming Hypothetical Bias in Stated Preference Surveys

In some, but not all, contexts, respondents to stated preference valuation studies state a willingness to pay (WTP) higher than what lab or field experiments indicate is the actual amount they would pay. However, several ex ante survey design strategies and ex post calibration techniques can be used to minimize or eliminate hypothetical bias. This article reviews and presents evidence on the ef...

A Meta-analysis of Two Gauteng Stated Preference Data Sets

Mode choice modelling is commonly done to estimate the patronage demand of the various available transport modes. Since the late 1990’s in South Africa, Stated Preference (SP) surveys and occasionally Revealed Preference (RP) surveys have been used to estimate the representative trip utility attributes and their associated weightings. The transit utility attributes and weightings are also used ...

Customer Valuation of Flight Characteristics: a Stated Preference Approach

Knowledge of customer valuation of flight characteristics is important for carriers to decide on service and price levels. It may also be important for regulators to have some knowledge of customer valuation of flight characteristics, as this customer valuation determines to what extent individual flights are substitutes. Furthermore, valuation of characteristics may play a role in infrastructu...

Contingent Valuation, Hypothetical Bias and Experimental Economics

Although the contingent valuation method has been widely used to value a diverse array of nonmarket environmental and natural resource commodities, recent empirical evidence suggests that it may not accurately estimate real economic values. The hypothetical nature of environmental valuation surveys typically results in responses that are significantly greater than actual payments. Economists ha...