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Real choices and hypothetical choices

In: Handbook of Choice Modelling

Author

Listed:
  • Glenn W. Harrison

Abstract

There is evidence that behavior changes when individuals make choices over hypothetical scenarios and stakes rather than real scenarios and stakes. What is the nature of this evidence, and how significant is it for different types of inferences? In particular, does it follow that “stated preferences” inferred from hypothetical choices differ all that much from the “preferences revealed” by real choices? What survey methods can better approximate real choices? What econometric methods allow one to pool hypothetical and real choices, when appropriate? Is the bias between real and hypothetical choices transferable from setting to setting?

Suggested Citation

  • Glenn W. Harrison, 2024. "Real choices and hypothetical choices," Chapters, in: Stephane Hess & Andrew Daly (ed.), Handbook of Choice Modelling, chapter 9, pages 246-275, Edward Elgar Publishing.
    • Handle: RePEc:elg:eechap:20188_9
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    File URL: https://www.elgaronline.com/doi/10.4337/9781800375635.00015
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