Effects of Cheap Talk on Consumer Willingness‐to‐Pay for Golden Rice
通过大规模邮寄调查，检验了在假设性估值问题前加入“廉价谈话”能否减少消费者对黄金大米的支付意愿高估，发现对多数参与者有效，但对知情消费者无效。
A large body of literature suggests willingness‐to‐pay is overstated in hypothetical valuation questions as compared to when actual payment is required. Recently, “cheap talk” has been proposed to eliminate the potential bias in hypothetical valuation questions. Cheap talk refers to process of explaining hypothetical bias to individuals prior to asking a valuation question. This study explores the effect of cheap talk in a mass mail survey using a conventional value elicitation technique. Results indicate that cheap talk was effective at reducing willingness‐to‐pay for most survey participants; however, consistent with previous research, cheap talk did not reduce willingness‐to‐pay for knowledgeable consumers.