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Field
Intervention (Hidden)
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Before
Participants are first asked to report their expected price for a 16-ounce jar of honey, along with their certainty about that price and their expected highest and lowest prices. They are then randomly assigned to one of three experimental groups: a control group that receives no external price information, a group that receives external price information set at 120% of their expected price, and a group that receives external price information set at 80% of their expected price. Following this, all participants complete a real, incentive-compatible choice experiment in which they make purchasing decisions among three honey options: prairie strip honey, solar farm honey, and conventional honey, at varying prices.
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After
Participants are first asked to report their expected price for a 16-ounce jar of honey, along with their certainty about that price and their expected highest and lowest prices. They are then randomly assigned to one of three experimental groups: a control group that receives no external price information, a group that receives external price information set at 130% of their expected price, and a group that receives external price information set at 70% of their expected price. Following this, all participants complete a real, incentive-compatible choice experiment in which they make purchasing decisions among three honey options: prairie strip honey, solar farm honey, and conventional honey, at varying prices.
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