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Belief elicitation in experiments: Is there a hedging problem?

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dc.creatorBlanco, Mariana
dc.creatorEngelmann, Dirkspa
dc.creatorKoch, Alexander K.spa
dc.creatorNormann, Hans-Theospa
dc.date.accessioned2020-05-26T00:07:48Z
dc.date.available2020-05-26T00:07:48Z
dc.date.created2010spa
dc.description.abstractBelief-elicitation experiments usually reward accuracy of stated beliefs in addition to payments for other decisions. But this allows risk-averse subjects to hedge with their stated beliefs against adverse outcomes of the other decisions. So can we trust the existing belief-elicitation results? And can we avoid potential hedging confounds? We propose an experimental design that theoretically eliminates hedging opportunities. Using this design, we test for the empirical relevance of hedging effects in the lab. Our results suggest that hedging confounds are not a major problem unless hedging opportunities are very prominent. If hedging opportunities are transparent, and incentives to hedge are strong, many subjects do spot hedging opportunities and respond to them. The bias can go beyond players actually hedging themselves, because some expect others to hedge and best respond to this. © 2010 Economic Science Association.eng
dc.format.mimetypeapplication/pdf
dc.identifier.doihttps://doi.org/10.1007/s10683-010-9249-1
dc.identifier.issn15736938
dc.identifier.issn13864157
dc.identifier.urihttps://repository.urosario.edu.co/handle/10336/24033
dc.language.isoengspa
dc.relation.citationEndPage438
dc.relation.citationIssueNo. 4
dc.relation.citationStartPage412
dc.relation.citationTitleExperimental Economics
dc.relation.citationVolumeVol. 13
dc.relation.ispartofExperimental Economics, ISSN:15736938, 13864157, Vol.13, No.4 (2010); pp. 412-438spa
dc.relation.urihttps://www.scopus.com/inward/record.uri?eid=2-s2.0-78049441043&doi=10.1007%2fs10683-010-9249-1&partnerID=40&md5=9f0d0419afb580f740a4bf5c9951e6c7spa
dc.rights.accesRightsinfo:eu-repo/semantics/openAccess
dc.rights.accesoAbierto (Texto Completo)spa
dc.source.instnameinstname:Universidad del Rosariospa
dc.source.reponamereponame:Repositorio Institucional EdocURspa
dc.subject.keywordBelief elicitationspa
dc.subject.keywordExperimental economicsspa
dc.subject.keywordExperimental methodologyspa
dc.subject.keywordHedgingspa
dc.titleBelief elicitation in experiments: Is there a hedging problem?spa
dc.typearticleeng
dc.type.hasVersioninfo:eu-repo/semantics/publishedVersion
dc.type.spaArtículospa
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