Replication data for: Separating Bayesian Updating from Non-Probabilistic Reasoning: An Experimental Investigation

Principal Investigator(s): View help for Principal Investigator(s) Dan Levin; James Peck; Asen Ivanov

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20140008_AdditionalMaterials			10/12/2019 10:27:PM
LICENSE.txt	text/plain	14.6 KB	10/12/2019 06:27:PM

Project Citation:

Levin, Dan, Peck, James, and Ivanov, Asen. Replication data for: Separating Bayesian Updating from Non-Probabilistic Reasoning: An Experimental Investigation. Nashville, TN: American Economic Association [publisher], 2016. Ann Arbor, MI: Inter-university Consortium for Political and Social Research [distributor], 2019-10-12. https://doi.org/10.3886/E114331V1

Project Description

Summary: Through a series of decision tasks involving colored cards, we provide separate measures of Bayesian updating and non-probabilistic reasoning skills. We apply these measures to (and are the first to study) a common-value Dutch auction. This format is more salient than the strategically equivalent first-price auction and silent Dutch formats in hinting that one should condition one's estimate of the value on having the highest bid. Both Bayesian updating skills and non-probabilistic reasoning skills are shown to help subjects correct for the winner's curse, as does the saliency of the active-clock Dutch format. (JEL D12, D44, D83)

Scope of Project

JEL Classification:
      D12 Consumer Economics: Empirical Analysis
      D44 Auctions
      D83 Search; Learning; Information and Knowledge; Communication; Belief; Unawareness

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Published Versions

V1 [2019-10-12]

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