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Validating Revealed Preferences

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Date

1983

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Abstract

The use of techniques which involve individuals being asked to reveal their preferences so that non-marketed goods and bads can be valued, has been limited. The source of this limitation is the concern that revealed preferences may be biased. A comparison of willingness to pay bids, generated by a sample of individuals who answered both direct and Smith Auction Process questions in an experimental context, indicated that strategic bias is present in revealed preferences. However, the majority of the sampled respondents accurately revealed their preferences, and biases in both directions occurred.

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Citation

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https://dspace-test.anu.edu.au/handle/1885/733724051

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DevOps Pure Testing

Source

Economic Analysis and Policy

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Article

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DOI

10.1016/S0313-5926(83)50001-5

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