Preferences for observable information in a strategic setting: An experiment
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説明
We experimentally investigate how much value people put in observable information about others in strategic interactions. The incentivized experimental task is to predict an unknown target player's trustworthiness in an earlier hidden action game. In Experiment 1, we vary the source of information about the target player (neutral picture, neutral video, video containing strategic content). The observed prediction accuracy rates then serve as an empirical measure of the objective value of information. In Experiment 2, we elicit the subjective value of information using the standard stated preferences method (willingness to accept). While the elicited subjective values are ranked in the same manner as the objective ones, subjects attach value to information which does not help predict target behavior, and exaggerate the value of helpful information.
International audience
収録刊行物
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- Journal of Economic Behavior & Organization
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Journal of Economic Behavior & Organization 170 268-285, 2020-02
Elsevier BV
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キーワード
- JEL: D - Microeconomics/D.D8 - Information, Knowledge, and Uncertainty/D.D8.D83 - Search • Learning • Information and Knowledge • Communication • Belief • Unawareness
- [SHS]Humanities and Social Sciences
- Observable information
- Experiment
- Willingness to accept
- willingness to accept
- Stated preferences
- and Uncertainty/D.D8.D83 - Search • Learning • Information and Knowledge • Communication • Belief • Unawareness
- 020
- individual characteristics
- experiment
- [SHS.ECO]Humanities and Social Sciences/Economics and Finance
- JEL: D - Microeconomics/D.D8 - Information
- Knowledge
- Individual characteristics
- [SHS.ENVIR]Humanities and Social Sciences/Environmental studies
- JEL: C - Mathematical and Quantitative Methods/C.C7 - Game Theory and Bargaining Theory/C.C7.C72 - Noncooperative Games
- [SHS.GESTION]Humanities and Social Sciences/Business administration
- observable information
- Prediction
- stated preferences
詳細情報 詳細情報について
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- CRID
- 1360009142470004608
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- ISSN
- 01672681
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- 資料種別
- journal article
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- データソース種別
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- Crossref
- KAKEN
- OpenAIRE