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 |
| Subjects: | |
| Online Access: | https://doi.org/10.5018/economics-ejournal.ja.2020-11 |
| _version_ | 1811226695927070720 |
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| author | Qin Botao |
| author_facet | Qin Botao |
| author_sort | Qin Botao |
| collection | DOAJ |
| description | 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 making a truth-telling promise can reduce the hypothetical bias. 2) All treatments are demand-revealing except for the hypothetical baseline. |
| first_indexed | 2024-04-12T09:29:40Z |
| format | Article |
| id | doaj.art-c793024464ad415d976be5fe0bc3a52a |
| institution | Directory Open Access Journal |
| issn | 1864-6042 |
| language | English |
| last_indexed | 2024-04-12T09:29:40Z |
| publishDate | 2020-12-01 |
| publisher | De Gruyter |
| record_format | Article |
| series | Economics: Journal Articles |
| spelling | doaj.art-c793024464ad415d976be5fe0bc3a52a2022-12-22T03:38:24ZengDe GruyterEconomics: Journal Articles1864-60422020-12-0114110.5018/economics-ejournal.ja.2020-11Does a promise script work to reduce the hypothetical bias? Evidence from an induced value experimentQin Botao0Jinhe Center for Economic Research, Xi’an Jiaotong UniversityChinaThis 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 making a truth-telling promise can reduce the hypothetical bias. 2) All treatments are demand-revealing except for the hypothetical baseline.https://doi.org/10.5018/economics-ejournal.ja.2020-11hypothetical biasoathrandom nth-price auctioninduced value experimentc90d44q51 |
| spellingShingle | Qin Botao Does a promise script work to reduce the hypothetical bias? Evidence from an induced value experiment Economics: Journal Articles hypothetical bias oath random nth-price auction induced value experiment c90 d44 q51 |
| title | Does a promise script work to reduce the hypothetical bias? Evidence from an induced value experiment |
| title_full | Does a promise script work to reduce the hypothetical bias? Evidence from an induced value experiment |
| title_fullStr | Does a promise script work to reduce the hypothetical bias? Evidence from an induced value experiment |
| title_full_unstemmed | Does a promise script work to reduce the hypothetical bias? Evidence from an induced value experiment |
| title_short | Does a promise script work to reduce the hypothetical bias? Evidence from an induced value experiment |
| title_sort | does a promise script work to reduce the hypothetical bias evidence from an induced value experiment |
| topic | hypothetical bias oath random nth-price auction induced value experiment c90 d44 q51 |
| url | https://doi.org/10.5018/economics-ejournal.ja.2020-11 |
| work_keys_str_mv | AT qinbotao doesapromisescriptworktoreducethehypotheticalbiasevidencefromaninducedvalueexperiment |