Anomalies and Stated Preference Techniques: A Framework for a Discussion of Coping Strategies |
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Authors: | Email author" target="_blank">Robert?SugdenEmail author |
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Institution: | (1) School of Economics, University of East Anglia, NR4 7TJ, UK |
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Abstract: | This paper introduces a symposium on the issue of how stated preference (SP) research can best cope with ‘anomalies’ (i.e.
systematic deviations from the predictions of standard economic theory) in survey responses. It proposes a framework for constructive
debate, recognising (i) the legitimate aspirations of SP research, (ii) the relevance of evidence from sources other than
best-practice SP, and (iii) the precautionary value of investigating strategies for coping with suspected anomalies, even
if questions about the robustness of anomalies have not been finally resolved. Five alternative coping strategies, discussed
in more detail in the symposium, are briefly introduced.
JEL classifications: D61, D63, Q51 |
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Keywords: | stated preference contingent valuation anomalies |
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