EconPapers    
Economics at your fingertips  
 

Demonstrability, difficulty and persuasion: An experimental study of advice taking

Robert Hoffmann (), Thomas Chesney, Swee-Hoon Chuah, Florian Kock and Jeremy Larner

Journal of Economic Psychology, 2020, vol. 76, issue C

Abstract: Self-interested paid advisors should try to sell their solutions no matter how they came about. However, we present evidence that advisor persuasiveness depends on two dimensions of their prior problem solving: solution difficulty and demonstrability. We report a laboratory experiment with repeated advisor-client interactions where both these dimensions are independently varied. Persuasion rises in solution demonstrability and falls in difficulty. The reason is non-optimising behaviour: Advisors lacking in confidence fail to conceal difficult problem solving and those receiving their advice baulk when the proposed solution lacks objective success criteria irrespective of its promise. Our findings suggest differential prospects for persuasion and selling of different kinds of products, services and ideas.

Keywords: Persuasion; Advisors; Experiment; Demonstrability; Lying cost (search for similar items in EconPapers)
Date: 2020
References: View references in EconPapers View complete reference list from CitEc
Citations: Track citations by RSS feed

Downloads: (external link)
http://www.sciencedirect.com/science/article/pii/S0167487019302958
Full text for ScienceDirect subscribers only

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:eee:joepsy:v:76:y:2020:i:c:s0167487019302958

DOI: 10.1016/j.joep.2019.102215

Access Statistics for this article

Journal of Economic Psychology is currently edited by G. Antonides and D. Read

More articles in Journal of Economic Psychology from Elsevier
Bibliographic data for series maintained by Haili He ().

 
Page updated 2020-06-19
Handle: RePEc:eee:joepsy:v:76:y:2020:i:c:s0167487019302958