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

John Whitehead (), Douglas Noonan and Elizabeth Marquardt

No 12-05, Working Papers from Department of Economics, Appalachian State University

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

JEL-codes: D1 D6 Z1 (search for similar items in EconPapers)
Date: 2012
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