Real choices and hypothetical choices

Glenn Harrison

Chapter 9 in Handbook of Choice Modelling, 2024, pp 246-275 from Edward Elgar Publishing

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?

Keywords: Economics and Finance; Environment; Geography; Urban and Regional Studies (search for similar items in EconPapers)
Date: 2024
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