Testing Distributional Dependence in the Becker-DeGroot-Marschak ...

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Total Number of Revisions Figure 10. Total Revisions Made by All Subjects, by Round WTP 50 45 40 35 30 25 20 15 10 7 6 5 4 3 2 1 0 5 0 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 Figure 11. Mean WTP by Whether Distribution #14 Viewed Twice Consecutively in the First Two Rounds 50 Round 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 Round distribution #14 then #5 distribution #14 twice
Table 1. Summary of the Distributions Used in the Experiment # $0.00 $0.50 $1.00 $1.50 $2.00 $2.50 $3.00 $3.50 $4.00 $4.50 probability mass points (in thousandths) 1 50 50 50 50 50 50 50 50 50 50 50 50 50 50 50 50 50 50 50 50 2 3 240 40 40 40 40 40 40 40 40 40 40 40 40 40 40 40 40 40 40 40 4 40 40 40 40 40 40 40 40 40 40 40 40 40 40 40 40 40 40 40 240 5 6 7 90 90 90 90 90 90 90 90 90 90 10 10 10 10 10 10 10 10 10 10 8 10 10 10 10 10 10 10 10 10 10 90 90 90 90 90 90 90 90 90 90 9 10 11 97 93 87 83 77 73 67 63 57 53 47 43 37 33 27 23 17 13 7 3 12 3 7 13 17 23 27 33 37 43 47 53 57 63 67 73 77 83 87 93 97 13 14 $5.00 $5.50 $6.00 $6.50 $7.00 $7.50 51 $8.00 $8.50 $9.00 $9.50 $10.00 $10.50 $11.00 $11.50 $12.00 $12.50 $13.00 $13.50 $14.00 $14.50 Mean Median $4.75 $4.75 50 50 50 50 50 50 50 50 50 50 50 50 50 50 50 50 50 50 50 50 $9.75 $9.75 $3.80 $3.50 $5.70 $6.00 240 40 40 40 40 40 40 40 40 40 40 40 40 40 40 40 40 40 40 40 $8.80 $8.50 40 40 40 40 40 40 40 40 40 40 40 40 40 40 40 40 40 40 40 240 $10.70 $11.00 $2.75 $2.50 $6.75 $7.00 90 90 90 90 90 90 90 90 90 90 10 10 10 10 10 10 10 10 10 10 $7.75 $7.50 10 10 10 10 10 10 10 10 10 10 90 90 90 90 90 90 90 90 90 90 $11.75 $12.00 $3.09 $2.50 $6.41 $7.00 97 93 87 83 77 73 67 63 57 53 47 43 37 33 27 23 17 13 7 3 $8.09 $7.50 3 7 13 17 23 27 33 37 43 47 53 57 63 67 73 77 83 87 93 97 $11.41 $12.00 Note: Blank spaces in the table represent points that occur with zero probability for the relevant distribution. Distributions #1, #2, #4, #5, #9, and #14 were each repeated once at some point over the course of the 20 BDM rounds for each subject.
Page 1 and 2: Testing Distributional Dependence i
Page 3 and 4: compatibility and relative ease of
Page 5 and 6: willing to accept (WTA) to sell the
Page 7 and 8: Hypothesis 3 (Comprehension): More
Page 9 and 10: effect of varying distributions (ap
Page 11 and 12: high-support distributions with mas
Page 13 and 14: esponses was recorded, so the infor
Page 15 and 16: different distribution—identical
Page 17 and 18: Since some of the subjects returned
Page 19 and 20: zero by instruction type, and it al
Page 21 and 22: Table 8 holds the support and the a
Page 23 and 24: The evidence presented in Figure 3,
Page 25 and 26: undesirably high prices when faced
Page 27 and 28: went dow[n] because i expected it t
Page 29 and 30: 5 Discussion As seen in Sections 4.
Page 31 and 32: maximum monetary compensation—reg
Page 33 and 34: test statistic of 0.6495 (with a co
Page 35 and 36: actual valuations for the item rema
Page 37 and 38: If the range or other attributes of
Page 39 and 40: 7 References Batemen, Ian J., Richa
Page 41 and 42: Mazar, Nina, Botond Kőszegi, and D
Page 43 and 44: Panel B. Round 2 WTP (Half of the s
Page 45 and 46: Figure 4. WTP Elicitations by Round
Page 47 and 48: Figure 6. Measured Risk Attitude an
Page 49: variance of first elicitations over
Page 53 and 54: Table 3. Summary of Categorical Sur
Page 55 and 56: Table 5. Number of Subjects with Si
Page 57 and 58: Table 7. Pairwise Distributional Te
Page 59 and 60: Panel B. Mass to the Left, High Sup
Page 61 and 62: #2 #2 #2 Panel D. Mass to the Right
Page 63 and 64: Appendix A Screenshots of the Exper
Page 65 and 66: [Second page of the instructions. T
Page 67 and 68: Figure A.3. Screenshot of the Holt-
Page 69 and 70: Survey Questions 1. What is your fi
Page 82 and 83: Appendix C Subject responses to the

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