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...

Little research has been conducted on evaluating out-of-sample forecasts of limited dependent variables. This study describes the large and small sample properties of two forecast evaluation techniques for limited dependent variables: receiver-operator curves and out-of-sample-log-likelihood...

While the combination of several or more models is often found to improve forecasts (Brandt and Bessler, Min and Zellner, Norwood and Schroeder), hypothesis tests are typically conducted using a single model approach 1 . Hypothesis tests and forecasts have similar goals; they seek to define a...

Model selection is often conducted by ranking models by their out-of-sample forecast error. Such criteria only incorporate information about the expected value, whereas models usually describe the entire probability distribution. Hence, researchers may desire a criteria evaluating the...

Hypothetical bias is a pervasive problem in stated-preference experiments. Recent research has developed two empirically successful calibrations to remove hypothetical bias, though the calibrations have not been tested using the same data or in a conjoint analysis. This study compares the two...

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...

Basic economic theory predicts that a consumer's willingness to pay for a good is affected by the presence of complements and substitutes. In an auction setting, this theory implies that the presence of complements would increase bid prices for a good, while the presence of substitutes would...

This paper explores the relevance of food origin to consumers when making product purchase decisions. We use data from a survey of pork shoppers at the point of sale of five food retailers in Germany. Participants engaged in both a hypothetical survey eliciting evaluations of the importance of...

This paper explores the relevance of food origin to consumers when making product purchase decisions. We use data from a survey of pork shoppers at the point of sale of five food retailers in Germany. Participants engaged in both a hypothetical survey eliciting evaluations of the importance of...