Revisiting Cheap Talk with New Evidence from a Field Experiment. Silva, A., Nayga, R. M, Campbell, B. L, & Park, J. L Journal of Agricultural and Resource Economics. abstract bibtex 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 openended 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.
@article{silva_revisiting_nodate-1,
title = {Revisiting {Cheap} {Talk} with {New} {Evidence} from a {Field} {Experiment}},
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 openended 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.},
language = {en},
journal = {Journal of Agricultural and Resource Economics},
author = {Silva, Andres and Nayga, Rodolfo M and Campbell, Benjamin L and Park, John L},
pages = {12},
file = {Silva et al. - Revisiting Cheap Talk with New Evidence from a Fie.pdf:/Users/neil.hawkins/Zotero/storage/5S52Y4KM/Silva et al. - Revisiting Cheap Talk with New Evidence from a Fie.pdf:application/pdf},
}
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