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http://dspace.mediu.edu.my:8181/xmlui/handle/10419/4098Full metadata record
| DC Field | Value | Language |
|---|---|---|
| dc.creator | Hey, John Denis | - |
| dc.creator | Morone, Andrea | - |
| dc.creator | Schmidt, Ulrich | - |
| dc.date | 2007 | - |
| dc.date.accessioned | 2013-10-16T06:05:47Z | - |
| dc.date.available | 2013-10-16T06:05:47Z | - |
| dc.date.issued | 2013-10-16 | - |
| dc.identifier | http://hdl.handle.net/10419/4098 | - |
| dc.identifier | ppn:549781129 | - |
| dc.identifier.uri | http://koha.mediu.edu.my:8181/xmlui/handle/10419/4098 | - |
| dc.description | In the context of eliciting preferences for decision making under risk, we ask the question: "which might be the 'best' method for eliciting such preferences?". It is well known that different methods differ in terms of the bias in the elicitation; it is rather less well-known that different methods differ in terms of their noisiness. The optimal trade-off depends upon the relative magnitudes of these two effects. We examine four different elicitation mechanisms (pairwise choice, willingness-to-pay, willingness-to-accept, and certainty equivalents) and estimate both effects. Our results suggest that economists might be better advised to use what appears to be a relatively inefficient elicitation technique (i.e. pairwise choice) in order to avoid the bias in better-known and more widely-used techniques. | - |
| dc.language | eng | - |
| dc.publisher | Kiel Institute for the World Economy (IfW) Kiel | - |
| dc.relation | Kieler Arbeitspapiere 1386 | - |
| dc.rights | http://www.econstor.eu/dspace/Nutzungsbedingungen | - |
| dc.subject | C91 | - |
| dc.subject | C81 | - |
| dc.subject | ddc:330 | - |
| dc.subject | Pairwise choice | - |
| dc.subject | WTP | - |
| dc.subject | WTA | - |
| dc.subject | Errors | - |
| dc.subject | Noise | - |
| dc.subject | Biases | - |
| dc.subject | Entscheidung bei Risiko | - |
| dc.subject | Willingness to pay | - |
| dc.subject | Experiment | - |
| dc.subject | Modell-Spezifikation | - |
| dc.subject | Statistischer Fehler | - |
| dc.subject | Bias | - |
| dc.subject | Präferenztheorie | - |
| dc.title | Noise and bias in eliciting preferences | - |
| dc.type | doc-type:workingPaper | - |
| Appears in Collections: | EconStor | |
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