Showing 1 - 7 of 7
Two partners try to dissolve a partnership that owns an asset of ambiguous value, where the value is determined ex post by a draw from an Ellsberg urn. In a within-subject experiment, subjects make decisions in three different bargaining mechanisms: unstructured bargaining, the Texas shoot-out,...
Persistent link: https://ebvufind01.dmz1.zbw.eu/10014380287
Robo-advisors are novel tools in financial markets that provide investors with low-cost financial advice, usually based on individual characteristics like risk attitudes. In a portfolio choice experiment running over 10 weeks, we study how much investors benefit from robo advice. We also study...
Persistent link: https://ebvufind01.dmz1.zbw.eu/10014380288
A risky skill game is a game in which skill plays an important role but outcomes are also strongly influenced by random factors. Examples are poker or blackjack but also many economic activities like trading on financial markets. In an online experiment we let subjects choose how often they want...
Persistent link: https://ebvufind01.dmz1.zbw.eu/10013257399
In density forecasts, respondents are asked to assign probabilities to pre-specifted ranges of inflation. We show in two large-scale experiments that responses vary when we modify the response scale. Asking an identical question with modifted response scales induces different answers: Shifting,...
Persistent link: https://ebvufind01.dmz1.zbw.eu/10013490743
The approach by Engelberg, Manski, and Williams (2009) to convert probabilistic survey responses into continuous probability distribution requires that the question intervals are equally wide. Almost all recently established household surveys have intervals of varying widths. Applying the...
Persistent link: https://ebvufind01.dmz1.zbw.eu/10012798657
In density forecasts, respondents are asked to assign probabilities to a response scale with pre-specified ranges of inflation. In two large-scale experiments, one conducted in the US and one in Germany, we show how the specifics of the response scale determine the responses: Shifting,...
Persistent link: https://ebvufind01.dmz1.zbw.eu/10014251909
We present the results of an experiment where a random subset of the participants in the Bundesbank's household panel receive personalized response scales, centered at each participant's point forecast. Personalized response scales offer two advantages over the standard scale which is centered...
Persistent link: https://ebvufind01.dmz1.zbw.eu/10014481221