Field labels generally fall into one of 2 camps, either terse or chatty, such as 'Name' versus 'What is your name?'. Typically there is a broad correlation between the expertise or focus of the user: for a professional using the form a lot, the terse form may be used, while the chatty form may be used to appear more friendly and engaging for customers.
While there are principles which can be applied to both styles (e.g. consistent terminology), are there any studies which have been done (or even personal experience) on the merits or effectiveness of both styles? The question has been triggered by a series of forms which use the terse form, but could easily be rewritten to use the chattier form.