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Belief elicitation in experiments: is there a hedging problem?
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SYSNO ASEP 0351609 Document Type J - Journal Article R&D Document Type Journal Article Subsidiary J Článek ve WOS Title Belief elicitation in experiments: is there a hedging problem? Author(s) Blanco, M. (CO)
Engelmann, Dirk (NHU-N) RID
Koch, A. K. (DK)
Normann, H.-T. (DE)Source Title Experimental Economics - ISSN 1386-4157
Roč. 13, č. 4 (2010), s. 412-438Number of pages 27 s. Language eng - English Country NL - Netherlands Keywords belief elicitation ; hedging ; experimental methodology Subject RIV AH - Economics CEZ AV0Z70850503 - NHU-N (2005-2011) UT WOS 000283508100003 DOI 10.1007/s10683-010-9249-1 Annotation Belief-elicitation experiments usually reward accuracy of stated beliefs in addition to payments for other decisions. But this allows risk-averse subjects to hedge with their stated beliefs against adverse outcomes of the other decisions. So can we trust the existing belief-elicitation results? And can we avoid potential hedging confounds? We propose an experimental design that theoretically eliminates hedging opportunities. Using this design, we test for the empirical relevance of hedging effects in the lab. Workplace Economics Institute Contact Tomáš Pavela, pavela@cerge-ei.cz, Tel.: 224 005 122 Year of Publishing 2011
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