Revisiting Cheap Talk with New Evidence from a Field Experiment

Andres Silva, Rodolfo Nayga, Benjamin Campbell and John Park

Journal of Agricultural and Resource Economics, 2011, vol. 36, issue 2, 12

Abstract: We assess the reduction of hypothetical bias in consumers’ willingness to pay (WTP) for products by applying a generic, short, and neutral cheap talk script in a retail setting. Using an open-ended elicitation mechanism with non-hypothetical, hypothetical, and hypothetical with cheap talk treatments, our results indicate that the hypothetical WTP values are higher than the nonhypothetical values, but the hypothetical with cheap talk values are not significantly different from non-hypothetical estimates.

Keywords: Research; Methods/Statistical; Methods (search for similar items in EconPapers)
Date: 2011
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Citations: View citations in EconPapers (55)

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Persistent link: https://EconPapers.repec.org/RePEc:ags:jlaare:117168

DOI: 10.22004/ag.econ.117168

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