Criterion and predictive validity of revealed and stated preference data: the case of â€œMountain Home Musicâ€ concert demand
John Whitehead (),
Douglas Noonan and
Economics and Business Letters, 2014, vol. 3, issue 2, 87-95
Despite a robust literature on nonmarket valuation of cultural assets, serious validity concerns remain. Â We address this by estimating a demand model for a regional concert series. Â We survey concertgoers during and then again after the concert season to gather ex ante and ex post stated and revealed preference data. Comparing ex ante stated preference data to 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 helps calibrate the results and avoid bias from using solely hypothetical, stated preference data. The results demonstrate how to improve predictive accuracy in contingent behavior models and improve our understanding of demand for live music performances. Â
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (3) Track citations by RSS feed
Downloads: (external link)
This item may be available elsewhere in EconPapers: Search for items with the same title.
Export reference: BibTeX
RIS (EndNote, ProCite, RefMan)
Persistent link: https://EconPapers.repec.org/RePEc:ove:journl:aid:10289
Access Statistics for this article
Economics and Business Letters is currently edited by Francisco J. Delgado
More articles in Economics and Business Letters from Oviedo University Press Contact information at EDIRC.
Bibliographic data for series maintained by Francisco J. Delgado ().