Does a promise script work to reduce the hypothetical bias? Evidence from an induced value experiment
This paper explores whether a truth-telling promise can work to reduce the hypothetical bias in preference elicitation. Using an induced value experiment in China with a random nth-price auction, the author finds: 1) Hypothetical bias exists in a random nth-price auction with induced values and maki...
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| Format: | Article |
| Language: | English |
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De Gruyter
2020-12-01
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| Series: | Economics: Journal Articles |
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| Online Access: | https://doi.org/10.5018/economics-ejournal.ja.2020-11 |