Constructing stated-preference (sp) experiments from a choice that the respondent made in a revealed-preference setting can enhance the realism of the sp task and the efficacy of preference revelation. However, the practice creates dependence between the sp attributes and unobserved factors, contrary to the independence assumption that is maintained for standard estimation procedures. We descri...

Businesses and governments devote substantial resources to the collection and analysis of survey data concerning the public’s preferences. The possibility of strategic responses to such surveys is analyzed. Consequential and hypothetical surveys are formally defined. For the former the question is posed: what form should strategic behavior take? The particular form is shown to be context depend...

938

A growing body of literature demonstrates that many behavioral anomalies observed in stated-preference elicitation methods such as the contingent valuation method are also observed in actual choices and vice versa. This presentation furthers the argument that such parallel behaviors should be viewed as a strength of stated-preference methods. Three well-known anomalies observed in both stated p...