Please use this identifier to cite or link to this item: http://hdl.handle.net/10419/223195
Authors: 
Krüger, Fabian
Pavlova, Lora
Year of Publication: 
2020
Series/Report no.: 
Working Papers of the Priority Programme 1859 "Experience and Expectation. Historical Foundations of Economic Behaviour" No. 14
Abstract: 
Several recent surveys ask for a person's subjective probabilities that the inflation rate falls into various outcome ranges. We provide a new measure of the uncertainty implicit in such probabilities. The measure has several advantages over existing methods: It is robust, trivial to implement, requires no functional form assumptions, and is well-defined for all logically possible probabilities. These advantages are particularly relevant when analyzing large scale consumer surveys. We illustrate the new measure using data from the Survey of Consumer Expectations.
Persistent Identifier of the first edition: 
Document Type: 
Working Paper

Files in This Item:
File
Size
433.45 kB





Items in EconStor are protected by copyright, with all rights reserved, unless otherwise indicated.