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| Title: | Cognitive Dissonance as a Means of Reducing Hypothetical Bias |
| Authors: | Alfnes, Frode
Yue, Chengyan
Jensen, Helen H. |
| Authors (Email): | Alfnes, Frode (frode.alfnes@umb.no)
Yue, Chengyan (yuechy@umn.edu) |
| Keywords: | apples
cognitive consistency
hypothetical bias
instrument calibration
willingness to pay |
| Issue Date: | 2009-02 |
| Series/Report no.: | CARD Working Paper
09-WP 486 |
| Abstract: | Hypothetical bias is a persistent problem in stated preference studies. We propose and test a method for reducing hypothetical bias based on the cognitive dissonance literature in social psychology. A central element of this literature is that people prefer not to take inconsistent stands and will change their attitudes and behavior to make them consistent. We find that participants in a stated preference willingness-to-pay study, when told that a nonhypothetical study of similar goods would follow, state significantly lower willingness to pay than participants not so informed. In other words, participants adjust their stated willingness to pay to avoid cognitive dissonance from taking inconsistent stands on their willingness to pay for the good being offered. |
| URI: | http://purl.umn.edu/47737 |
| Institution/Association: | Iowa State University>Center for Agricultural and Rural Development>CARD Working Paper Series |
| Total Pages: | 40 |
| Collections: | CARD Working Paper Series
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| 09-WP_486.Alfnes-Yue-Jensen.pdf | | 216Kb | PDF | View/Open |
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