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Cited by 592

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Effects of Cheap Talk on Consumer Willingness‐to‐Pay for Golden Rice

Open access
Lusk, Jayson L.·2003·American Journal of Agricultural Economics

Abstract

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.

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Metadata

Authors
Lusk, J. L.
Venue
American Journal of Agricultural Economics
Publisher
Wiley
Published
2003-11
Volume
85
Issue
4
Pages
840-856
ISSN
  • 0002-9092 (ISSN-L)
  • 1467-8276
OpenAlex
W2159639859
Cited by
592
References
27
FWCI
43.74
Type
journal article
Language
en
Open access
green

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CoChat. (2026). Citation check: Effects of Cheap Talk on Consumer Willingness‐to‐Pay for Golden Rice. https://app.cochat.ai/papers/10.1111/1467-8276.00492
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Lusk, J. L. (2003). Effects of Cheap Talk on Consumer Willingness‐to‐Pay for Golden Rice. American Journal of Agricultural Economics. https://doi.org/10.1111/1467-8276.00492

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Contains information from the Semantic Scholar Academic Graph Datasets, made available under the ODC Attribution License (ODC-BY 1.0).

Semantic Scholar’s data is described in: Kinney, R., et al. (2023). The Semantic Scholar Open Data Platform. arXiv:2301.10140.