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 nth-price 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:	2020
Authors:	Qin, Botao
Published in:	Economics: The Open-Access, Open-Assessment E-Journal. - Kiel : Kiel Institute for the World Economy (IfW), ISSN 1864-6042. - Vol. 14.2020, 2020-11, p. 1-15
Publisher:	Kiel : Kiel Institute for the World Economy (IfW)
Subject:	Hypothetical bias \| oath \| random nth-price auction \| induced value experiment

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Type of publication:	Article
Type of publication (narrower categories):	Article
Language:	English
Other identifiers:	10.5018/economics-ejournal.ja.2020-11 [DOI] 169718880X [GVK] hdl:10419/216834 [Handle] RePEc:zbw:ifweej:202011 [RePEc]
Classification:	C90 - Design of Experiments. General ; D44 - Auctions ; O51 - U.S.; Canada
Source:	EconStor

Persistent link: https://www.econbiz.de/10012211624