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

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

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