Mitigating Hypothetical Bias in Value of Time Studies: Lab-Experiment Results

Lars Hultkrantz and Xue Shengcong
Additional contact information
Xue Shengcong: Department of Business, Economics, Statistics and Informatics, Postal: Örebro University, Swedish Business School, SE - 701 82 ÖREBRO, Sweden

No 2009:14, Working Papers from Örebro University, School of Business

Abstract: We present results from a series of willingness to-accept value-of-time choice experiments with students in Sweden and China, using both real and hypothetical purchases of the students´ time. Our results confirm negative hypothetical bias in stated choice elicitation of value-of-time. However, we find no evidence of hypothetical bias in a choice experiment where respondents to hypothetical or real offers have equal reference points (i.e., for purchase of their time “here and now”). Moreover, at least in the Chinese sample, we find that ex-post mitigation of negative hypothetical bias by certainty calibration, through recoding of uncertain “yes” responses into “no”, overshoots, while calibration by restricting estimations to confident “yes” and “no” responses possibly performs better.

Keywords: Stated choice; Certainty calibration; Preference certainty (search for similar items in EconPapers)
JEL-codes: C20 C91 D80 (search for similar items in EconPapers)
Pages: 25 pages
Date: 2009-10-16, Revised 2010-11-01
New Economics Papers: this item is included in nep-dcm and nep-exp
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (1)

Downloads: (external link)
https://www.oru.se/globalassets/oru-sv/institution ... 4-2009---revised.pdf (application/pdf)

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:hhs:oruesi:2009_014

Access Statistics for this paper

More papers in Working Papers from Örebro University, School of Business Örebro University School of Business, SE - 701 82 ÖREBRO, Sweden. Contact information at EDIRC.
Bibliographic data for series maintained by ().