Mark R. Wardman
Abstract
Individuals’ stated preferences are found to be a reasonably accurate guide to true underlying preferences. When the RP and SP models are segmented according to socio-economic factors, there is a high degree of correspondence between them.
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Individuals’ stated preferences are found to be a reasonably accurate guide to true underlying preferences. When the RP and SP models are segmented according to socio-economic factors, there is a high degree of correspondence between them.
Key concepts: Preference, Revealed preference, Econometrics, Economics, Microeconomics