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information at the principal's advantage, we test experimentally the principal's willingness to bias (overestimate or under …) principals do bias information, ii) agents trust the cheap-talk messages they receive and adjust their effort accordingly …
Persistent link: https://www.econbiz.de/10008790485
In this article, we propose a unified framework that accomodates many of the existing models for dichotomous choice contingent valuation with follow-up and allows to discriminate between them by simple parametric tests of hypothese. Our empirical results show that the Range model, developped in...
Persistent link: https://www.econbiz.de/10010750907
being uncertain in an interval. The initial response is subject to starting point bias. Our model provides an alternative … interpretation of the starting point bias in the dichotomous choice valuation surveys. Using the Exxon Valdez survey, we show that …
Persistent link: https://www.econbiz.de/10010750948
Recent work in experimental economics has explored whether observed behavior depends on whether wealth was windfall or earned. This paper extends this work by considering whether earned wealth ffects bidding behavior in an induced-value second-price auction. We find people bid more sincerely in...
Persistent link: https://www.econbiz.de/10009643764
results emerge–(1) French students bid sincerely; and (2) no hypothetical bias exists. …
Persistent link: https://www.econbiz.de/10009643787
Hypothetical bias is a long-standing issue in stated preference and contingent valuation studies – people generally … hypothetical bias in demand elicitation exercises for both IV and HG values. For testbed purpose, we use a classic second …-price auction to elicit preferences. Comparing the demand curve we elicit in both, hypothetical bias unambiguously (i) vanishes in …
Persistent link: https://www.econbiz.de/10010750981
Herein we explore whether a solemn oath can eliminate hypothetical bias in a voting referenda, a design commonly … a hypothetical bias does not exist. Second, we cannot reject the hypothesis that people who sign an oath are as likely …
Persistent link: https://www.econbiz.de/10010751019
Eliciting sincere preferences for non-market goods remains a challenge due to hypothetical bias - the so-called gap …-world institution of the solenn oath can improve preference elicitation. Applying the social psychology theory on the oath as a truth …
Persistent link: https://www.econbiz.de/10010738521
This paper considers whether earned wealth affects bidding behavior in an induced-value second-price auction. We find people bid more sincerely in the auction with earned wealth given monetary incentives; earned wealth did not induce sincere bidding in hypothetical auctions.
Persistent link: https://www.econbiz.de/10010738571
improve preference elicitation. Applying the social psychology theory on the oath as a truth-telling-commitment device, we ask …
Persistent link: https://www.econbiz.de/10010775922