Asking for frequencies rather than percentages increases the validity of subjective probability measures: Evidence from subjective life expectancy

David A. Comerford

Economics Letters, 2019, vol. 180, issue C, 33-35

Abstract: Survey measures of subjective expectations manifest anomalies in how people report percentages. The current research finds that frequency-based measures deliver more valid subjective probabilities of living to a given age than do questions that elicit a percentage chance.

Keywords: Expectations; Subjective probabilities; Survival expectations; Numeracy (search for similar items in EconPapers)
JEL-codes: D15 D84 D91 (search for similar items in EconPapers)
Date: 2019
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Citations: View citations in EconPapers (3)

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Persistent link: https://EconPapers.repec.org/RePEc:eee:ecolet:v:180:y:2019:i:c:p:33-35

DOI: 10.1016/j.econlet.2019.04.001

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