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Article Dans Une Revue The Journal of Socio-Economics Année : 2012

Preferences, rational choices and economic valuation: Some empirical tests

Préférences, rationalité et évaluation économique : quelques tests empiriques

Résumé

This study focuses on the respondent rationality hypothesis, usually assumed to be true in Discrete Choice Experiments. We examine lexicographic preferences, the influence of consistency, and the role of task complexity in the individual choice process. To this end, we carry out rationality tests in a survey on forest recreation. Results show that choice set orderings do not impact on choice probability. If a violation of continuity or consistency axioms does impact on choice probability, the Willingness-To-Pay estimators calculated using the total sample and the sub-samples of “irrational” respondents are not significantly different. This serves as a basis for discussing the traditional concept of rationality.
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hal-02596807 , version 1 (15-05-2020)

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Bénédicte Rulleau, Jeanne Dachary-Bernard. Preferences, rational choices and economic valuation: Some empirical tests. The Journal of Socio-Economics, 2012, 41 (2), pp.198-206. ⟨hal-02596807⟩

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