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A pervasive concern with the use of subjective data in choice models is that the data are biased and endogenous. This paper examines the extent to which cognitive biases plague subjective data, specifically addressing 1) whether cognitive dissonance affects the reporting of beliefs, and 2)...
Persistent link: https://www.econbiz.de/10008657257
Persistent link: https://www.econbiz.de/10009159151
A pervasive concern with the use of subjective data in choice models is that the data are biased and endogenous. This paper examines the extent to which cognitive biases plague subjective data, specifically addressing 1) whether cognitive dissonance affects the reporting of beliefs, and 2)...
Persistent link: https://www.econbiz.de/10013141968
empirical joint distribution of liquid assets and income. Second, the bias alters the distribution of marginal propensities to …
Persistent link: https://www.econbiz.de/10012495059
Persistent link: https://www.econbiz.de/10013475323
In the Mexican Peso crisis 1994/95, the lack of readily available information, particularly regarding monetary aggregates, has often been commented on. This paper analyzes empirically whether information disparity with respect to economic fundamentals contributed to the crisis. Using historical...
Persistent link: https://www.econbiz.de/10014075594
Persistent link: https://www.econbiz.de/10011720025
, it identifies the presence of some systematic bias. We further investigate the measure’s comparative statics regarding …
Persistent link: https://www.econbiz.de/10012648374
emphasizing variables derived from formal decision theory. In a data set on trainee truckers in a large US company, we provide a … comparing the predictive power of measurements derived from personality theory and decision theory for several individual …. Further, decision theory and personality variables are meaningfully related. For example, we confirm that cognitive ability …
Persistent link: https://www.econbiz.de/10009570095