Scandinavian Working Papers in Economics
Working Papers in Economics,
University of Gothenburg, Department of Economics
No 128: Using Cheap-Talk as a Test of Validity in Choice Experiments
Fredrik Carlsson (), Peter Frykblom and Carl-Johan Lagerkvist ()
Additional contact information
Fredrik Carlsson: Department of Economics, School of Economics and Commercial Law, Göteborg University, Postal: Box 640, SE 40530 GÖTEBORG
Peter Frykblom: Department of Economics, Appalachian State University, Postal: Boone, North Carolina 28608-2051
Carl-Johan Lagerkvist: Department of Economics, Swedish University of Agricultural Sciences, Postal: Box 7013, 750 07 UPPSALA
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.
Keywords: hypothetical WTP; cheap talk; incentive compatibility
11 pages, March 12, 2004
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