Title

Combining Revealed and Stated Preferences: Consistency Tests and Their Interpretations

Campus Units

Center for Agricultural and Rural Development, Economics

Document Type

Article

Publication Version

Submitted Manuscript

Publication Date

8-2003

Journal or Book Title

American Journal of Agricultural Economics

Volume

85

Issue

3

First Page or Article ID Number

525

Last Page

537

Abstract

This article models the recreation demand for Iowa wetlands, combining survey data on both actual usage patterns (i.e., revealed preferences (RPs)) and anticipated changes to those patterns under hypothetical increases in trip costs (i.e., stated preferences (SPs)). We formulate and test specific hypotheses concerning potential sources of bias in each approach and discuss what can be learned about the validity of the models from such tests.

Comments

This is a working paper of an article from American Journal of Agricultural Economics, 2003, 85(3); 525-537.