Blumenschein, Karen; Blomquist, GlennC.; Johannesson, Magnus - In: Economic Journal 118 (2008) 525, pp. 114-137
Concern exists that hypothetical willingness to pay questions overestimate real willingness to pay. In a field experiment, we compare two methods of removing hypothetical bias, a cheap talk approach and a certainty approach, with real purchases. We find evidence of hypothetical bias for...