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Article citations


Silva, A., Nayga, R.M., Campbell, B. and Park, J.L. (2012) Can Perceived Task Complexity Influence Cheap Talk’s Effectiveness in Reducing Hypothetical Bias in Stated Choice Studies. Applied Economics Letters, 19, 1711-1714.

has been cited by the following article:

  • TITLE: Hypothetical Bias for Private Goods: Does Cheap Talk Make a Difference?

    AUTHORS: Maurice Doyon, Laure Saulais, Bernard Ruffieux, Denise Bweli

    KEYWORDS: Experimental Economics, Willingness-to-Pay, Cheap Talk, Hypothetical Bias

    JOURNAL NAME: Theoretical Economics Letters, Vol.5 No.6, December 29, 2015

    ABSTRACT: Economists and market researchers often need to accurately gauge consumers’ willingness-to-pay for private goods. The experimental literature has identified a problem of hypothetical bias when using stated preferences techniques, such as open-ended questions. It has been suggested that using a cheap talk script has the potential to resolve this bias. Yet, few empirical studies on the efficiency of cheap talk for private goods exist. This study uses a between-subjects experimental design to compare consumers’ willingness-to-pay for DHA-enriched milk using three elicitation methods: 1) Hypothetical open-ended stated preference question, without monetary consequence for the respondent; 2) Idem to the first with the addition of a cheap talk script; and 3) A Vickrey auction with real monetary consequences. In this experiment subjects have the choice to participate, or not, at each period. Our results indicate a significant hypothetical bias. While the use of cheap talk has no impact on this bias, it does however increase the level of participation to the market.