An update on Bayesian updating
This paper reports an experiment in which subjects are asked to assess probabilities for unknown events, with treatments that vary the extremity of the prior information. Probabilities are elicited using a Becker-DeGroot-Marshak procedure that does not depend on assumptions about risk aversion. The focus is on the pattern of biases in information processing.
Year of publication: |
2009
|
---|---|
Authors: | Holt, Charles A. ; Smith, Angela M. |
Published in: |
Journal of Economic Behavior & Organization. - Elsevier, ISSN 0167-2681. - Vol. 69.2009, 2, p. 125-134
|
Publisher: |
Elsevier |
Keywords: | Laboratory experiments Baye's rule Probability weighting |
Saved in:
Online Resource
Saved in favorites
Similar items by person
-
Newsvendor "pull-to-center" effect : adaptive learning in a laboratory experiment
Bostian, A. J. Allen, (2008)
-
An update on Bayesian updating
Holt, Charles A., (2009)
-
Coordination of strategic responses to security threats : laboratory evidence
Hess, Rachel O., (2007)
- More ...