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Criterion and predictive validity of revealed and stated preference data: the case of “Mountain Home Music” concert demand

Economics and Business Letters

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Title Criterion and predictive validity of revealed and stated preference data: the case of “Mountain Home Music” concert demand
 
Creator Whitehead, John C.
Noonan, Douglas Simpson
Marquardt, Elizabeth
 
Description Despite a robust literature on nonmarket valuation of cultural assets, serious validity concerns remain.  We address this by estimating a demand model for a regional concert series.  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.  
 
Publisher Oviedo University Press
 
Contributor —
 
Date 2014-09-10
 
Type info:eu-repo/semantics/article
info:eu-repo/semantics/publishedVersion
—
 
Format application/pdf
 
Identifier http://www.unioviedo.es/reunido/index.php/EBL/article/view/10289
10.17811/ebl.3.2.2014.87-95
 
Source Economics and Business Letters; Vol 3, No 2 (2014): June - Special Issue: The Economics of Cultural Industries; 87-95
Economics and Business Letters; Vol 3, No 2 (2014): June - Special Issue: The Economics of Cultural Industries; 87-95
2254-4380
10.17811/ebl.3.2.2014
 
Language eng
 
Relation http://www.unioviedo.es/reunido/index.php/EBL/article/view/10289/10016
http://www.unioviedo.es/reunido/index.php/EBL/article/downloadSuppFile/10289/313
 
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