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Comparing Willingness-to-Pay Estimates from Experimental Auctions with Mailed Surveys Incorporating Cheap Talk

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  • Froehlich, Eve J.
  • Carlberg, Jared G.

Abstract

Willingness-to-pay (WTP) results from experimental auctions are compared to those from cheap-talk and conventional surveys for branded beef products in Canada. It is found that while the cheap-talk survey appears to mitigate hypothetical bias compared to the conventional survey, cheap-talk survey WTP remains higher than that in experimental auctions.

Suggested Citation

  • Froehlich, Eve J. & Carlberg, Jared G., 2007. "Comparing Willingness-to-Pay Estimates from Experimental Auctions with Mailed Surveys Incorporating Cheap Talk," 2007 Annual Meeting, February 4-7, 2007, Mobile, Alabama 34945, Southern Agricultural Economics Association.
    • Handle: RePEc:ags:saeasm:34945
    DOI: 10.22004/ag.econ.34945
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    References listed on IDEAS

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    1. Jayson L. Lusk, 2003. "Effects of Cheap Talk on Consumer Willingness-to-Pay for Golden Rice," American Journal of Agricultural Economics, Agricultural and Applied Economics Association, vol. 85(4), pages 840-856.
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    6. Lusk, Jayson L. & Fox, John A., 2003. "Value elicitation in retail and laboratory environments," Economics Letters, Elsevier, vol. 79(1), pages 27-34, April.
    7. Cummings, Ronald G & Harrison, Glenn W & Rutstrom, E Elisabet, 1995. "Homegrown Values and Hypothetical Surveys: Is the Dichotomous Choice Approach Incentive-Compatible?," American Economic Review, American Economic Association, vol. 85(1), pages 260-266, March.
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