Imagine you were taking a survey. That survey offers some hypothetical scenario, and asks you what you would do. You may say you are going to buy a new product, or vote for a new party. If that hypothetical scenario becomes real: do your actual reactions match your survey response?

This article looks at hypothetical bias in survey research.

What is hypothetical bias?

In environmental economics, it is important to understand people’s willingness to pay — how much people value their environment. Similarly, in competition analysis, we need to…