The False Consensus Effect Disappears if Representative Information and Monetary Incentives Are Given
AbstractWe present an experiment on the false consensus effect. Unlike previous experiments, we provide monetary incentives for revealing the actual estimation of others' behavior. In each session and round, sixteen subjects make a choice between two options simultaneously. Then they estimate the choices of a randomly selected subgroup. For half of the rounds we provide information about other subjects' choices. There we find no false consensus effect. At an aggregate level, subjects significantly underweight rather than overweight their choices. When we do not provide information, the presence of a false consensus effect cannot be detected. Copyright Kluwer Academic Publishers 2000
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Bibliographic InfoArticle provided by Springer in its journal Experimental Economics.
Volume (Year): 3 (2000)
Issue (Month): 3 (December)
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Web page: http://www.springerlink.com/link.asp?id=102888
false consensor; experimental economics;
Other versions of this item:
- Engelmann, Dirk & Strobel, Martin, 1999. "The false consensus effect disappears if representative information and monetary incentives are given," SFB 373 Discussion Papers 1999,66, Humboldt University of Berlin, Interdisciplinary Research Project 373: Quantification and Simulation of Economic Processes.
- C91 - Mathematical and Quantitative Methods - - Design of Experiments - - - Laboratory, Individual Behavior
- D83 - Microeconomics - - Information, Knowledge, and Uncertainty - - - Search, Learning, and Information
- D84 - Microeconomics - - Information, Knowledge, and Uncertainty - - - Expectations; Speculations
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- Abbink, Klaus & Abdolkarim Sadrieh, 1995. "RatImage - research Assistance Toolbox for Computer-Aided Human Behavior Experiments," Discussion Paper Serie B 325, University of Bonn, Germany.
- Jacobsen, Eva & Abdolkarim Sadrieh, 1996. "Experimental Proof for the Motivational Importance of Reciprocity," Discussion Paper Serie B 386, University of Bonn, Germany.
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