Does a promise script work to reduce the hypothetical bias? Evidence from an induced value experiment

Botao Qin

No 2019-38, Economics Discussion Papers from Kiel Institute for the World Economy (IfW Kiel)

Abstract: 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 nthprice 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.

Keywords: hypothetical bias; oath; random nth-price auction; induced value experiment (search for similar items in EconPapers)
JEL-codes: C90 D44 Q51 (search for similar items in EconPapers)
Date: 2019
New Economics Papers: this item is included in nep-des and nep-exp
References: View references in EconPapers View complete reference list from CitEc
Citations:

Downloads: (external link)
http://www.economics-ejournal.org/economics/discussionpapers/2019-38
https://www.econstor.eu/bitstream/10419/197994/1/1667509675.pdf (application/pdf)

Related works:
Journal Article: Does a promise script work to reduce the hypothetical bias? Evidence from an induced value experiment (2020)
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:zbw:ifwedp:201938

Access Statistics for this paper

More papers in Economics Discussion Papers from Kiel Institute for the World Economy (IfW Kiel) Contact information at EDIRC.
Bibliographic data for series maintained by ZBW - Leibniz Information Centre for Economics ().