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

Botao Qin

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 nth-price 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.

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Year of publication:	2020
Authors:	Qin, Botao
Publisher:	[Kiel] : [Kiel Inst. for the World Economy]
Subject:	Hypothetical bias \| oath \| random nth-price auction \| induced value experiment \| Experiment \| Zahlungsbereitschaftsanalyse \| Willingness to pay \| Auktionstheorie \| Auction theory \| Systematischer Fehler \| Bias

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Extent:	1 Online-Ressource (15 Seiten)
Series:	Economics ; vol. 14, 2020-11
Type of publication:	Book / Working Paper
Type of publication (narrower categories):	Graue Literatur ; Non-commercial literature
Language:	English
Research data:	https://doi.org/10.7910/DVN/L5CTMC
Other identifiers:	10.5018/economics-ejournal.ja.2020-11 [DOI] hdl:10419/216834 [Handle]
Classification:	C90 - Design of Experiments. General ; D44 - Auctions ; O51 - U.S.; Canada
Source:	ECONIS - Online Catalogue of the ZBW

Persistent link: https://www.econbiz.de/10012209713