Incentive-Compatible Elicitation of Quantiles

Nicholas Kiefer ()

Working Papers from Cornell University, Center for Analytic Economics

Abstract: Incorporation of expert information in inference or decision settings is often important, especially in cases where data are unavailable, costly or unreliable. One approach is to elicit prior quantiles from an expert and then to fit these to a statistical distribution and proceed according to Bayes rule. An incentive-compatible elicitation method using an external randomization is available.

Date: 2009-09
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Persistent link: https://EconPapers.repec.org/RePEc:ecl:corcae:09-13

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