Combining Revealed and Stated Preferences: Consistency Tests and Their Interpretations
Center for Agricultural and Rural Development, Economics
Journal or Book Title
American Journal of Agricultural Economics
First Page or Article ID Number
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.
Azevedo, Christopher D.; Herriges, Joseph A.; and Kling, Catherine L., "Combining Revealed and Stated Preferences: Consistency Tests and Their Interpretations" (2003). Economics Publications. 558.