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

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Table 9. p-values for Tests of Means Between Elicitations from Basic Instruction and Elicitations from Detailed Instructions, by Round and Timing of Elicitations round first last 1 0.0327** 0.0071*** 2 0.0406** 0.0091*** 3 0.4858 0.0998* 4 0.0756* 0.3180 5 0.0389** 0.0180** 6 0.0254** 0.0209** 7 0.0995* 0.0175** 8 0.1352 0.1538 9 0.2801 0.1755 10 0.9676 0.4546 11 0.5295 0.2834 12 0.7827 0.8337 13 0.1115 0.1618 14 0.0963* 0.0282** 15 0.1193 0.0631* 16 0.0746* 0.0783* 17 0.9915 0.6717 18 0.2531 0.1310 19 0.1053 0.1151 20 0.7956 0.4165 Notes: For each round, the reported p-values give the probability from the two-tailed test that the mean of the elicitations from subjects who viewed detailed instructions has the same value as the mean of the elicitations from subjects who viewed basic instructions. The column “last” gives these test values for the relevant means over the last elicitations in a given round, and the p-values reported thus give an idea of the statistical significance of differences of means displayed visually in Figure 3. The column labeled “first” gives these test values for the relevant means over the first elicitations in a given round. The symbols *, **, and *** indicate significance at the 10%, 5%, and 1% levels respectively. 62
Appendix A Screenshots of the Experiment, Instructions, and Survey Questions Figure A.1. Introductory Screen 63
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Testing Distributional Dependence i
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compatibility and relative ease of
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willing to accept (WTA) to sell the
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Hypothesis 3 (Comprehension): More
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effect of varying distributions (ap
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Page 17 and 18: Since some of the subjects returned
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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 and 50: variance of first elicitations over
Page 51 and 52: Table 1. Summary of the Distributio
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: #2 #2 #2 Panel D. Mass to the Right
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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