Using Cheap-Talk as a Test of Validity in Choice Experiments
نویسندگان
چکیده
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. JEL classification: C91, Q13
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