The economic value of food labels: A lab experiment on safer infant milk formula

Table 4. Testing for the ambiguity and information effect

Hypothesis¹	Test	p-Value	Description	Effect
	Wilcoxon’s	0.436	5^th trial versus 5^th	Cannot reject H0. No
	signed-rank test		trial	significant ambiguity
Both Both ^H 0 ^:^FUnclear ⁼^FClear				effect.
Both Both ^H 0 ^:^FUnclear ⁼^FClear	Wilcoxon’s signed-rank test	0.013**	5^th trial versus 1^st	H0 can be rejected at the
	Wilcoxon’s signed-rank test	0.013**	5^th trial versus 1^st	H0 can be rejected at the
			trial	0.05 significance level. Ambiguity effect present.
H :FUnclear ₌_F Both	Kolmogorov-	0.303	5^th trial versus 5^th	Cannot reject H_0. No
0 ^: Unclear ⁼ Unclear	Smirnov two-		trial	significant ambiguity
	sample test			effect.
Unclear Both / / _y~₁ ∣~^l ₁-, ∣~^l ₁-,	Kolmogorov-	0.247	5^th trial versus 5^th	Cannot reject H0. No
0 ^: Pr ep ⁼ Pr ep	Smirnov two-		trial	significant ambiguity
	sample test			effect.
Clear Both	Kolmogorov-	0.111	5^th trial versus 5^th	Cannot reject H_0. No
0 ^: Clear ⁼ Clear	Smirnov two-		trial	significant ambiguity
	sample test			effect.
Clear Both	Kolmogorov-	0.077*	5^th trial versus 5^th	H₀ can be rejected at the
0 ^: Pr ep ⁼ Pr ep	Smirnov two-		trial	0.10 significance level.
	sample test			Ambiguity effect present.
Clear Unclear	Kolmogorov-	0.292	5^th trial versus 5^th	Cannot reject H0. No
0 ^: Clear ⁼ Unclear	Smirnov two-		trial	significant ambiguity
	sample test			effect.
Clear Unclear	Kolmogorov-	0.163	5^th trial versus 5^th	Cannot reject H_0. No
0 ^: Prep ⁼ Prep	Smirnov two-		trial	significant ambiguity
	sample test			effect.
Both Both ^H0 ^:^FClear ⁼^FPr ep	Wilcoxon’s signed-rank test	0.000***	5^th trial versus 5^thtrial	H₀ can be rejected at the 0.01 significance level.
Clear Clear ^H0 ^:^FClear ⁼^FPr ep	Wilcoxon’s signed-rank test	0.000***	5^th trial versus 5^thtrial	Significant information effect present.
Unclear Unclear ^H0 ^:^FUnclear ⁼^FPr ep	Wilcoxon’s	0.005***	5^th trial versus 5^th	H0 can be rejected at the
Unclear Unclear ^H0 ^:^FUnclear ⁼^FPr ep	signed-rank test		trial	0.01 significance level. Significant information
	signed-rank test		trial	0.01 significance level. Significant information
				effect present.

Notes: ¹Superscript = treatment, Subscript = trial, ***Significance level = 0.01/ ** Significance level =
0.05/ * Significance level = 0.10

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