Please use this identifier to cite or link to this item: https://hdl.handle.net/10419/244454 
Year of Publication: 
2010
Series/Report no.: 
Working Paper No. 14/2009
Publisher: 
Örebro University School of Business, Örebro
Abstract: 
We present results from a series of willingness to-accept value-of-time choice experiments with students in Sweden and China, using both real and hypothetical purchases of the students´ time. Our results confirm negative hypothetical bias in stated choice elicitation of value-of-time. However, we find no evidence of hypothetical bias in a choice experiment where respondents to hypothetical or real offers have equal reference points (i.e., for purchase of their time "here and now"). Moreover, at least in the Chinese sample, we find that ex-post mitigation of negative hypothetical bias by certainty calibration, through recoding of uncertain "yes" responses into "no", overshoots, while calibration by restricting estimations to confident "yes" and "no" responses possibly performs better.
Subjects: 
Stated choice
Certainty calibration
Preference certainty
JEL: 
C20
C91
D80
Document Type: 
Working Paper

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