Information Videos Mitigate Hypothetical Bias in Discrete Choice Experiments

<h3>Abstract</h3> Efforts to reduce hypothetical bias in stated preference methods often focus on the content of exante information, while this study examines the impacts of presentation formats on hypothetical bias mitigation, focusing on cheap talk scripts and product explanations. Using beef alternatives characterized by attributes such as carbon label, plant-based label, favor and price, we find that video presentations result in hypothetical willingness-to-pay values closer to non-hypothetical scenarios, particularly among new and unfamiliar attributes. Subjects exposed to video information demonstrate an improved understanding of hypothetical bias and product attributes, and those with lower cognitive skills might more responsive to video displays.