IDEAS home Printed from https://ideas.repec.org/a/eee/ecolet/v121y2013i1p121-123.html
   My bibliography  Save this article

A mechanism for eliciting the mean and quantiles of a random variable

Author

Listed:
  • Demuynck, Thomas

Abstract

We present two Becker–DeGroot–Marschak type incentive compatible elicitation mechanisms. The first can be used to elicit an agent’s belief about the mean of a random variable while the second elicits the quantiles.

Suggested Citation

  • Demuynck, Thomas, 2013. "A mechanism for eliciting the mean and quantiles of a random variable," Economics Letters, Elsevier, vol. 121(1), pages 121-123.
    • Handle: RePEc:eee:ecolet:v:121:y:2013:i:1:p:121-123
    DOI: 10.1016/j.econlet.2013.07.019
    as

    Download full text from publisher

    File URL: http://www.sciencedirect.com/science/article/pii/S0165176513003522
    Download Restriction: Full text for ScienceDirect subscribers only
    File URL: https://libkey.io/10.1016/j.econlet.2013.07.019?utm_source=ideas
    LibKey link: if access is restricted and if your library uses this service, LibKey will redirect you to where you can use your library subscription to access this item
    ---><---

    As the access to this document is restricted, you may want to look for a different version below or search for a different version of it.

    Other versions of this item:

    References listed on IDEAS

    as
    1. Qu, Xiangyu, 2012. "A mechanism for eliciting a probability distribution," Economics Letters, Elsevier, vol. 115(3), pages 399-400.
    2. Holt, Charles A. & Smith, Angela M., 2009. "An update on Bayesian updating," Journal of Economic Behavior & Organization, Elsevier, vol. 69(2), pages 125-134, February.
    3. Edi Karni, 2009. "A Mechanism for Eliciting Probabilities," Econometrica, Econometric Society, vol. 77(2), pages 603-606, March.
    4. Tanjim Hossain & Ryo Okui, 2013. "The Binarized Scoring Rule," The Review of Economic Studies, Review of Economic Studies Ltd, vol. 80(3), pages 984-1001.
    Full references (including those not matched with items on IDEAS)

    Citations

    Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
    as


    Cited by:

    1. Markus Eyting & Patrick Schmidt, 2019. "Belief Elicitation with Multiple Point Predictions," Working Papers 1818, Gutenberg School of Management and Economics, Johannes Gutenberg-Universität Mainz, revised 16 Nov 2020.
    2. Lazzati, Natalia & Van Essen, Matt, 2014. "A nearly optimal auction for an uninformed seller," Economics Letters, Elsevier, vol. 122(3), pages 396-399.
    3. Eyting, Markus & Schmidt, Patrick, 2021. "Belief elicitation with multiple point predictions," European Economic Review, Elsevier, vol. 135(C).

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. Charness, Gary & Gneezy, Uri & Rasocha, Vlastimil, 2021. "Experimental methods: Eliciting beliefs," Journal of Economic Behavior & Organization, Elsevier, vol. 189(C), pages 234-256.
    2. Kai Barron, 2021. "Belief updating: does the ‘good-news, bad-news’ asymmetry extend to purely financial domains?," Experimental Economics, Springer;Economic Science Association, vol. 24(1), pages 31-58, March.
    3. Guillaume Hollard & Sébastien Massoni & Jean-Christophe Vergnaud, 2016. "In search of good probability assessors: an experimental comparison of elicitation rules for confidence judgments," Theory and Decision, Springer, vol. 80(3), pages 363-387, March.
    4. Choi, Jin Hyuk & Han, Kookyoung, 2020. "Optimal contract for outsourcing information acquisition," Economics Letters, Elsevier, vol. 195(C).
    5. Li Hao & Daniel Houser, 2012. "Belief elicitation in the presence of naïve respondents: An experimental study," Journal of Risk and Uncertainty, Springer, vol. 44(2), pages 161-180, April.
    6. Harrison, Glenn W. & Martínez-Correa, Jimmy & Swarthout, J. Todd, 2014. "Eliciting subjective probabilities with binary lotteries," Journal of Economic Behavior & Organization, Elsevier, vol. 101(C), pages 128-140.
    7. Burdea, Valeria & Woon, Jonathan, 2022. "Online belief elicitation methods," Journal of Economic Psychology, Elsevier, vol. 90(C).
    8. Markus Eyting & Patrick Schmidt, 2019. "Belief Elicitation with Multiple Point Predictions," Working Papers 1818, Gutenberg School of Management and Economics, Johannes Gutenberg-Universität Mainz, revised 16 Nov 2020.
    9. Eyting, Markus & Schmidt, Patrick, 2021. "Belief elicitation with multiple point predictions," European Economic Review, Elsevier, vol. 135(C).
    10. Ingrid Burfurd & Tom Wilkening, 2022. "Cognitive heterogeneity and complex belief elicitation," Experimental Economics, Springer;Economic Science Association, vol. 25(2), pages 557-592, April.
    11. Dustan, Andrew & Koutout, Kristine & Leo, Greg, 2022. "Second-order beliefs and gender," Journal of Economic Behavior & Organization, Elsevier, vol. 200(C), pages 752-781.
    12. Crosetto, Paolo & Filippin, Antonio & Katuščák, Peter & Smith, John, 2020. "Central tendency bias in belief elicitation," Journal of Economic Psychology, Elsevier, vol. 78(C).
    13. David Ronayne & Roberto Veneziani & William R. Zame, 2022. "Do Decision Makers Have Subjective Probabilities? An Experimental Test," Working Papers 940, Queen Mary University of London, School of Economics and Finance.
    14. Guillaume Hollard & Sébastien Massoni & Jean-Christophe Vergnaud, 2010. "Subjective beliefs formation and elicitation rules: experimental evidence," Documents de travail du Centre d'Economie de la Sorbonne 10088, Université Panthéon-Sorbonne (Paris 1), Centre d'Economie de la Sorbonne.
    15. Steffen Andersen & John Fountain & Glenn Harrison & E. Rutström, 2014. "Estimating subjective probabilities," Journal of Risk and Uncertainty, Springer, vol. 48(3), pages 207-229, June.
    16. Becker, Christoph K. & Melkonyan, Tigran & Proto, Eugenio & Sofianos, Andis & Trautmann, Stefan T., 2020. "Reverse Bayesianism: Revising Beliefs in Light of Unforeseen Events," IZA Discussion Papers 13821, Institute of Labor Economics (IZA).
    17. Di Girolamo, Amalia & Harrison, Glenn W. & Lau, Morten I. & Swarthout, J. Todd, 2015. "Subjective belief distributions and the characterization of economic literacy," Journal of Behavioral and Experimental Economics (formerly The Journal of Socio-Economics), Elsevier, vol. 59(C), pages 1-12.
    18. Blume, Andreas & Lai, Ernest K. & Lim, Wooyoung, 2019. "Eliciting private information with noise: The case of randomized response," Games and Economic Behavior, Elsevier, vol. 113(C), pages 356-380.
    19. Alvaro Sandroni & Eran Shmaya, 2013. "Eliciting Beliefs by Paying in Chance," Discussion Papers 1565, Northwestern University, Center for Mathematical Studies in Economics and Management Science.
    20. Folli, Dominik & Wolff, Irenaeus, 2022. "Biases in belief reports," Journal of Economic Psychology, Elsevier, vol. 88(C).

    More about this item

    Keywords

    Becker–DeGroot–Marschak; Elicitation; Incentive compatible; Mean; Quantile;
    All these keywords.

    JEL classification:

    • D81 - Microeconomics - - Information, Knowledge, and Uncertainty - - - Criteria for Decision-Making under Risk and Uncertainty
    • C49 - Mathematical and Quantitative Methods - - Econometric and Statistical Methods: Special Topics - - - Other

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:eee:ecolet:v:121:y:2013:i:1:p:121-123. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Catherine Liu (email available below). General contact details of provider: http://www.elsevier.com/locate/ecolet .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.