External validity of inferred attribute non‐attendance: Evidence from a laboratory experiment with real and hypothetical payoffs

We use attribute non‐attendance (ANA) models to analyze differences in laboratory experiments with real and hypothetical payoffs. In both payoff treatments, we find that the effect of the cost of an emissions permit on behavior differs if the cost is implicit or explicit. In inferred ANA models with the real payment data we find no evidence of ANA. With the hypothetical treatment data we find evidence of ANA on two of the four choice attributes. We do not find evidence that real and hypothetical decisions converge to theoretical predictions once ANA is accounted for.