Using cheap talk as a test of validity in choice experiments
نویسندگان
چکیده
منابع مشابه
Using Cheap-Talk as a Test of Validity in Choice Experiments
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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This paper is a survey of experimental evidence on behavior in games with communication, focusing on environments where ``talk is cheap'' in the sense that players' messages have no direct payoff implications. Also considered are some environments in which communication was permitted throughout the game, in addition to those environments in which only preplay communication was allowed. Journal ...
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The effectiveness of pre-play communication in achieving efficient outcomes has long been a subject of controversy. Aumann conjectures that, in a variant of the Stag Hunt game, “an agreement to play [the efficient outcome] conveys no information about what the players will do” and thus should not affect behavior. Farrell and Rabin suspect that cheap talk will achieve efficiency. Results show im...
متن کاملCheap Talk and Authoritative Figures in Empirical Experiments ∗ Alfred Pang
Cheap talk refers to non-binding, costless, non-veri able communications that agents may participate in, before or during a game. It is di cult to observe collusion through cheap talk in empirical experiements. One reason for this is our cultural programming that causes us to obey authority gures.
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Article history: Received 11 November 2009 Available online 16 July 2010 JEL classification: C9 D02 D7 D8
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ژورنال
عنوان ژورنال: Economics Letters
سال: 2005
ISSN: 0165-1765
DOI: 10.1016/j.econlet.2005.03.010