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In many areas of economics there is a growing interest in how expertise and preferences drive individual and group … making. In this paper we propose a new channel through which we can empirically identify expertise and preference parameters … by using variation in decisions over heterogeneous priors. Relative to existing estimation approaches, our \Prior- Based …
Persistent link: https://www.econbiz.de/10010849638
In many areas of economics there is a growing interest in how expertise and preferences drive individual and group … making. In this paper we propose a new channel through which we can empirically identify expertise and preference parameters … by using variation in decisions over heterogeneous priors. Relative to existing estimation approaches, our "Prior …
Persistent link: https://www.econbiz.de/10010851379
In many areas of economics there is a growing interest in how expertise and preferences drive individual and group … making. In this paper we propose a new channel through which we can empirically identify expertise and preference parameters … by using variation in decisions over heterogeneous priors. Relative to existing estimation approaches, our Prior Based …
Persistent link: https://www.econbiz.de/10011185973
In many areas of economics there is a growing interest in how expertise and preferences drive individual and group … making. In this paper we propose a new channel through which we can empiri- cally identify expertise and preference … parameters by using variation in decisions over heterogeneous priors. Relative to existing estimation approaches, our \Prior …
Persistent link: https://www.econbiz.de/10010758409
In many areas of economics there is a growing interest in how expertise and preferences drive individual and group … making. In this paper we propose a newc hannel through which we can empirically identify expertise and preference parameters … by using variation indecisions over heterogeneous priors.Relative to existing estimation approaches,our"Prior Based …
Persistent link: https://www.econbiz.de/10010758425
In many areas of economics there is a growing interest in how expertise and preferences drive individual and group … making. In this paper we propose a new channel through which we can empirically identify expertise and preference parameters … by using variation in decisions over heterogeneous priors. Relative to existing estimation approaches, our “Prior …
Persistent link: https://www.econbiz.de/10011071506
A large theoretical literature assumes that experts di ffer in terms of preferences and the distribution of their …
Persistent link: https://www.econbiz.de/10009195559
Numerous experiments have demonstrated the possibility of attitude polarization. For instance, Lord, Ross & Lepper (1979) partitioned subjects into two groups, according to whether or not they believed the death penalty had a deterrent effect, and presented them with a set of studies on the...
Persistent link: https://www.econbiz.de/10011112021
The study at hand deals with the expectations of professional analysts and novices in the context of foreign exchange markets. We analyze the respective forecasting accuracy and our results indicate that there exist substantial differences between professional forecasts and judgmental forecasts...
Persistent link: https://www.econbiz.de/10009226060
The empirical performance of macroeconomic exchange rate models is more than disappointing. This dismal result is also reflected in the forecasting capabilities of professional analysts: all in all, analysts are not in a position to beat naïve random walk forecasts. The root for this deficient...
Persistent link: https://www.econbiz.de/10009226070