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Criterion and Predictive Validity of Revealed and Stated Preference Data: The Case of Music Concert Demand

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  • John C. Whitehead
  • Douglas Noonan
  • Elizabeth Marquardt

Abstract

We survey concert-goers during the season and gather revealed preference and ex-ante stated preference data. We then survey the same concert goers after the season and gather additional ex-post revealed preference data. Comparing ex-ante stated preference data to the ex-post revealed preference data we find respondents overstate their concert attendance behavior. An ex-ante revealed-stated preference demand model with a stated preference adjustment predicts the revealed preference concerts accurately. Key Words: Revealed preference, stated preference, criterion validity, predictive validity

Suggested Citation

  • John C. Whitehead & Douglas Noonan & Elizabeth Marquardt, 2012. "Criterion and Predictive Validity of Revealed and Stated Preference Data: The Case of Music Concert Demand," Working Papers 12-05, Department of Economics, Appalachian State University.
    • Handle: RePEc:apl:wpaper:12-05
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    File URL: http://econ.appstate.edu/RePEc/pdf/wp1205.pdf
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    References listed on IDEAS

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    1. John C. Whitehead & Subhrendu K. Pattanayak & George L. Van Houtven & Brett R. Gelso, 2008. "Combining Revealed And Stated Preference Data To Estimate The Nonmarket Value Of Ecological Services: An Assessment Of The State Of The Science," Journal of Economic Surveys, Wiley Blackwell, vol. 22(5), pages 872-908, December.
    2. John List & Craig Gallet, 2001. "What Experimental Protocol Influence Disparities Between Actual and Hypothetical Stated Values?," Environmental & Resource Economics, Springer;European Association of Environmental and Resource Economists, vol. 20(3), pages 241-254, November.
    3. Jerry Hausman, 2012. "Contingent Valuation: From Dubious to Hopeless," Journal of Economic Perspectives, American Economic Association, vol. 26(4), pages 43-56, Fall.
    4. John Whitehead, 2005. "Environmental Risk and Averting Behavior: Predictive Validity of Jointly Estimated Revealed and Stated Behavior Data," Environmental & Resource Economics, Springer;European Association of Environmental and Resource Economists, vol. 32(3), pages 301-316, November.
    5. Jeffrey Englin & Trudy Cameron, 1996. "Augmenting travel cost models with contingent behavior data," Environmental & Resource Economics, Springer;European Association of Environmental and Resource Economists, vol. 7(2), pages 133-147, March.
    6. W. Douglass Shaw, 2002. "Testing the Validity of Contingent Behavior Trip Responses," American Journal of Agricultural Economics, Agricultural and Applied Economics Association, vol. 84(2), pages 401-414.
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    Cited by:

    1. John C. Whitehead & Melissa S. Weddell & Peter A. Groothuis, 2016. "Mitigating Hypothetical Bias In Stated Preference Data: Evidence From Sports Tourism," Economic Inquiry, Western Economic Association International, vol. 54(1), pages 605-611, January.

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    More about this item

    Keywords

    revealed preference; stated preference; criterion validity; predictive validity;
    All these keywords.

    JEL classification:

    • Z1 - Other Special Topics - - Cultural Economics
    • D1 - Microeconomics - - Household Behavior
    • D6 - Microeconomics - - Welfare Economics

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