American Journal of Agricultural Economics · 2011 · 189 citations · 55 references
BusinessEconomicsMarketingBehavioral EconomicsConsumer BehaviorExperimental DesignConsumer ChoiceDiscrete Choice ModelsOnline Consumer BehaviorStated Preference MethodsSurvey SamplingWillingness To PayCheap Talk ScriptsConsumer Preference MeasurementDiscrete Choice Experiment DesignOnline Controlled ExperimentsOnline ExperimentsStated Preference ModellingSurvey ExperimentationWillingness-to-pay Elicitation
This paper presents the first known assessment of cheap talk effectiveness in a choice experiment conducted online with a focus on the distinction between impacts on stated willingness to pay at the population mean and in targeted sub‐samples. Utilizing a large national survey and split‐sample experimental design, we find cheap talk scripts may not only influence the level of willingness to pay estimated for representative consumers, but also may produce more reliable estimates. The magnitude of the impact that cheap talk has on willingness to pay is found to depend on the evaluated respondent sub‐sample.
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