External Validity of Hypothetical Surveys and Laboratory Experiments

dc.creator	Chang, Jae Bong
dc.creator	Lusk, Jayson L.
dc.creator	Norwood, F. Bailey
dc.date	2017-04-01T18:01:01Z
dc.date.accessioned	2026-07-09T04:33:09Z
dc.description	We compare the ability of three preference elicitation methods (hypothetical choices, non-hypothetical choices, and non-hypothetical rankings) and three discrete-choice econometric models (the multinomial logit, the independent availability logit, and the random parameter logit) to predict actual retail shopping behavior in three different product categories (ground beef, wheat flour, and dishwashing liquid). Overall, across all methods, we find a reasonably high level of external validity. Our results suggest that the non-hypothetical elicitation approaches, especially the non-hypothetical ranking, outperformed the hypothetical choice experiment in predicting retail sales. We also find that the random parameter logit can have superior predictive performance, but that the multinomial logit predicts equally well in some circumstances.
dc.identifier	doi:10.22004/ag.econ.43600
dc.identifier	https://ageconsearch.umn.edu/record/43600/files/2008%20AAEA%20Meeting_poster%20paper_465048.pdf
dc.identifier	http://ageconsearch.umn.edu/record/43600
dc.identifier.uri	http://hdl.handle.net/123456789/551591
dc.language	eng
dc.publisher
dc.source	http://ageconsearch.umn.edu/record/43600
dc.title	External Validity of Hypothetical Surveys and Laboratory Experiments
dc.type	Text

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