|
|
|
|
|
| Aadland, David; Caplan, Arthur J.. |
| We present a theoretical framework for understanding the relationship between anchoring bias, hypothetical bias, and cheap talk in constructed markets. In our theory, interviewers provide agents with signals such as cheap talk and bid values while eliciting the value for nonmarket goods. In response to these signals, agents revise their prior distributions over the value of the good. Previous empirical studies have failed to account for the interaction between cheap talk and anchoring during this updating process, leading researchers to incorrectly assess the effects of cheap talk in reducing hypothetical bias. In particular, we predict that cheap talk will appear to be more effective for relatively large bids. We test our theory in an experimental... |
| Tipo: Conference Paper or Presentation |
Palavras-chave: Marketing. |
| Ano: 2005 |
URL: http://purl.umn.edu/19568 |
| |
|
|
| Aadland, David; Caplan, Arthur J.. |
| Two recent studies have shown that "cheap talk" is an effective means of eliminating positive hypothetical bias in experimental and field-auction settings. We further investigate the ability of cheap talk to mitigate positive hypothetical bias in a CVM phone survey administered to over 4,000 households. Positive hypothetical bias is detected in our data by contrasting revealed and stated preference information. However, a short, neutral cheap-talk script appears to exacerbate rather than mitigate the bias. Based on this and mixed evidence from earlier studies, we suggest caution in using cheap talk as an ex ante control for hypothetical bias. |
| Tipo: Conference Paper or Presentation |
Palavras-chave: Research Methods/ Statistical Methods. |
| Ano: 2003 |
URL: http://purl.umn.edu/22112 |
| |
|
| |
|
|
| Caplan, Arthur J.; Aadland, David; Macharia, Anthony. |
| This paper reports results from a contingent valuation based public good experiment conducted in the African nation of Botswana. In a sample of university students, we find evidence that stated willingness to contribute to a public good in a hypothetical setting is higher than actual contribution levels. However, results from regression analysis suggest that this is true only in the second round of the experiment, when participants making actual contributions have learned to significantly lower their contribution levels. As globalization expands markets, and economies such as Botswana’s continue to modernize, there is a growing need to understand how hypothetical bias will influence the valuation of public goods. |
| Tipo: Journal Article |
Palavras-chave: Hypothetical bias; Public good; Willingness to pay; Botswana; Environmental Economics and Policy. |
| Ano: 2010 |
URL: http://purl.umn.edu/90836 |
| |
|
| |
|
|
|
