An update on Bayesian updating

This paper reports an experiment in which subjects are asked to assess probabilities for unknown events, with treatments that vary the extremity of the prior information. Probabilities are elicited using a Becker-DeGroot-Marshak procedure that does not depend on assumptions about risk aversion. The focus is on the pattern of biases in information processing.

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Year of publication:	2009
Authors:	Holt, Charles A. ; Smith, Angela M.
Published in:	Journal of Economic Behavior & Organization. - Elsevier, ISSN 0167-2681. - Vol. 69.2009, 2, p. 125-134
Publisher:	Elsevier
Keywords:	Laboratory experiments Baye's rule Probability weighting

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Type of publication:	Article
Source:	RePEc - Research Papers in Economics

Persistent link: https://ebvufind01.dmz1.zbw.eu/10005005885