|
EconStor >
Institut für Weltwirtschaft (IfW), Kiel >
Kieler Arbeitspapiere, IfW >
Please use this identifier to cite or link to this item:
http://hdl.handle.net/10419/4098
|
| | |
Full metadata record
| DC Field | | Value | | Language |
| dc.contributor.author | | Hey, John Denis | | en_US |
| dc.contributor.author | | Morone, Andrea | | en_US |
| dc.contributor.author | | Schmidt, Ulrich | | en_US |
| dc.date.accessioned | | 2009-01-28T14:18:08Z | | - |
| dc.date.available | | 2009-01-28T14:18:08Z | | - |
| dc.date.issued | | 2007 | | en_US |
| dc.identifier.uri | | http://hdl.handle.net/10419/4098 | | - |
| dc.description.abstract | | In the context of eliciting preferences for decision making under risk, we ask the question: "which might be the 'best' method for eliciting such preferences?". It is well known that different methods differ in terms of the bias in the elicitation; it is rather less well-known that different methods differ in terms of their noisiness. The optimal trade-off depends upon the relative magnitudes of these two effects. We examine four different elicitation mechanisms (pairwise choice, willingness-to-pay, willingness-to-accept, and certainty equivalents) and estimate both effects. Our results suggest that economists might be better advised to use what appears to be a relatively inefficient elicitation technique (i.e. pairwise choice) in order to avoid the bias in better-known and more widely-used techniques. | | en_US |
| dc.language.iso | | eng | | en_US |
| dc.publisher | | Kiel Institute for the World Economy (IfW) Kiel | | en_US |
| dc.relation.ispartofseries | | Kieler Arbeitspapiere 1386 | | de |
| dc.subject.jel | | C91 | | en_US |
| dc.subject.jel | | C81 | | en_US |
| dc.subject.ddc | | 330 | | - |
| dc.subject.keyword | | Pairwise choice | | en_US |
| dc.subject.keyword | | WTP | | - |
| dc.subject.keyword | | WTA | | - |
| dc.subject.keyword | | Errors | | - |
| dc.subject.keyword | | Noise | | - |
| dc.subject.keyword | | Biases | | - |
| dc.subject.stw | | Entscheidung bei Risiko | | de |
| dc.subject.stw | | Willingness to pay | | en_US |
| dc.subject.stw | | Experiment | | de |
| dc.subject.stw | | Modell-Spezifikation | | de |
| dc.subject.stw | | Statistischer Fehler | | de |
| dc.subject.stw | | Bias | | en_US |
| dc.subject.stw | | Präferenztheorie | | de |
| dc.title | | Noise and bias in eliciting preferences | | en_US |
| dc.type | | Working Paper | | en_US |
| dc.identifier.ppn | | 549781129 | | en_US |
| dc.rights | | http://www.econstor.eu/dspace/Nutzungsbedingungen | | - |
| Appears in Collections: | | Publikationen von Forscherinnen und Forschern des IfW Economists Online Kieler Arbeitspapiere, IfW
|
Items in EconStor are protected by copyright, with all rights reserved, unless otherwise indicated.
|