Using Cheap-Talk as a Test of Validity in Choice Experiments

Fredrik Carlsson (), Peter Frykblom and Lagerkvist, Carl-Johan ()
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Peter Frykblom: Department of Economics, Appalachian State University, Postal: Boone, North Carolina 28608-2051
Lagerkvist, Carl-Johan: Department of Economics, Swedish University of Agricultural Sciences, Postal: Box 7013, 750 07 UPPSALA

No 128, Working Papers in Economics from Göteborg University, Department of Economics

Abstract: In two experiments on the choice of consumer goods, the estimated marginal willingness to pay for food are found to be lower in the survey version with cheap talk. Our test can be seen as a test of hypothetical bias. This implies we cannot reject the hypothesis of a hypothetical bias for marginal WTP in choice experiments.

Keywords: hypothetical WTP; cheap talk; incentive compatibility (search for similar items in EconPapers)
JEL-codes: C91 Q13 (search for similar items in EconPapers)
New Economics Papers: this item is included in nep-cbe, nep-dcm and nep-res
Date: 2004-03-12
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Journal Article: Using cheap talk as a test of validity in choice experiments (2005)
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