Does a promise script work to reduce the hypothetical bias? Evidence from an induced value experiment

This paper explores whether a truth-telling promise can work to reduce the hypothetical bias in preference elicitation. Using an induced value experiment in China with a random nthprice auction, the author finds: 1) Hypothetical bias exists in a random nth-price auction with induced values and making a truth-telling promise can reduce the hypothetical bias. 2) All treatments are demand-revealing except for the hypothetical baseline.

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Year of publication:	2019
Authors:	Qin, Botao
Publisher:	Kiel : Kiel Institute for the World Economy (IfW)
Subject:	hypothetical bias \| oath \| random nth-price auction \| induced value experiment

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Series:	Economics Discussion Papers ; 2019-38
Type of publication:	Book / Working Paper
Type of publication (narrower categories):	Working Paper
Language:	English
Other identifiers:	1667509675 [GVK] hdl:10419/197994 [Handle] RePEc:zbw:ifwedp:201938 [RePEc]
Classification:	C90 - Design of Experiments. General ; D44 - Auctions ; Q51 - Valuation of Environmental Effects
Source:	EconStor

Persistent link: https://www.econbiz.de/10012015772