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

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Author Info
Carlsson, Fredrik () (Department of Economics, School of Economics and Commercial Law, Göteborg University)
Frykblom, Peter (Department of Economics, Appalachian State University)
Lagerkvist, Carl-Johan () (Department of Economics, Swedish University of Agricultural Sciences)

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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.

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File URL: http://www.handels.gu.se/epc/archive/00003448/01/gunwpe0128.pdf
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Publisher Info
Paper provided by Göteborg University, Department of Economics in its series Working Papers in Economics with number 128.

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Length: 11 pages
Date of creation: 12 Mar 2004
Date of revision:
Handle: RePEc:hhs:gunwpe:0128

Contact details of provider:
Postal: Department of Economics, School of Business, Economics and Law, Göteborg University Box 640, SE 405 30 GÖTEBORG, Sweden
Phone: 031-773 10 00
Web page: http://www.handels.gu.se/econ/
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Related research
Keywords: hypothetical WTP cheap talk incentive compatibility

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Find related papers by JEL classification:
C91 - Mathematical and Quantitative Methods - - Design of Experiments - - - Laboratory, Individual Behavior
Q13 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Agriculture - - - Agricultural Markets and Marketing; Cooperatives; Agribusiness

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References listed on IDEAS
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
  1. Krinsky, Itzhak & Robb, A Leslie, 1986. "On Approximating the Statistical Properties of Elasticities," The Review of Economics and Statistics, MIT Press, vol. 68(4), pages 715-19, November. [Downloadable!] (restricted)
  2. Jayson L. Lusk & Ted C. Schroeder, 2004. "Are Choice Experiments Incentive Compatible? A Test with Quality Differentiated Beef Steaks," American Journal of Agricultural Economics, American Agricultural Economics Association, vol. 86(2), pages 467-482, 05. [Downloadable!] (restricted)
  3. Johansson-Stenman , Olof & Svedsäter, Henrik, 2003. "Self Image And Choice Experiments: Hypothetical And Actual Willingness To Pay," Working Papers in Economics 94, Göteborg University, Department of Economics. [Downloadable!]
  4. John A. List, 2001. "Do Explicit Warnings Eliminate the Hypothetical Bias in Elicitation Procedures? Evidence from Field Auctions for Sportscards," American Economic Review, American Economic Association, vol. 91(5), pages 1498-1507, December. [Downloadable!] (restricted)
  5. Ronald G. Cummings & Laura O. Taylor, 1999. "Unbiased Value Estimates for Environmental Goods: A Cheap Talk Design for the Contingent Valuation Method," American Economic Review, American Economic Association, vol. 89(3), pages 649-665, June. [Downloadable!] (restricted)
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Cited by:
(explanations, Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.)

  1. Carlsson, Fredrik & Martinsson, Peter, 2006. "Do Experience and Cheap Talk influence Willingness to Pay in an Open-Ended Contingent Valuation Survey?," Working Papers in Economics 190, Göteborg University, Department of Economics. [Downloadable!]
  2. Carlsson, Fredrik & Frykblom, Peter & Lagerkvist, Carl Johan, 2004. "Consumer willingness to pay for farm animal welfare - transportation of farm animals to slaughter versus the use of mobile abattoirs," Working Papers in Economics 149, Göteborg University, Department of Economics. [Downloadable!]
  3. Robert G. Brummett & Rodolfo M. Nayga, Jr. & Ximing Wu, 2007. "On the Use of Cheap Talk in New Product Valuation," Economics Bulletin, Economics Bulletin, vol. 2(1), pages 1-9. [Downloadable!]
  4. Hiselius, Lena Winslott, 2005. "Preferences regarding road transports of hazardous materials using choice experiments - any sign of biases?," Working Papers 2005:30, Lund University, Department of Economics. [Downloadable!]
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