Flexible Approximation of Subjective ExpectationsUsing Probability Questions:An Application to the Investment Game

We use spline interpolation to approximate the subjective cumulative distribution function ofan economic agent over the future realization of a continuous (possibly censored) randomvariable. The method proposed exploits information collected using a small number ofprobability questions on expectations and requires a weak prior knowledge of the shape ofthe underlying distribution...

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Year of publication:	2007-10-01
Authors:	Bellemare, Charles ; Bissonnette, Luc R. ; Kröger, Sabine
Institutions:	Forschungsinstitut zur Zukunft der Arbeit <Bonn>
Subject:	Erwartung \| Harmonisierung

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Extent:	576512 bytes 41 p. application/pdf
Series:	IZA - Forschungsinstitut zur Zukunft der Arbeit - Discussion Papers IZA Discussion Paper ; No. 3121 (2007)
Type of publication:	Book / Working Paper
Language:	English
Classification:	C10 - Econometric and Statistical Methods: General. General ; C81 - Methodology for Collecting, Estimating, and Organizing Microeconomic Data ; D39 - Distribution. Other ; Business administration. General ; Individual Working Papers, Preprints ; No country specification
Source:	USB Cologne (business full texts)

Persistent link: https://www.econbiz.de/10005861529