The sensitivity of subjective probability to time and elicitation method
AbstractThe paper reports the results of a survey designed to elicit probability judgements for different types of events: ‘pure chance’ events, for which objective probabilities can be calculated; ‘public’ events, about which there may be some discussion in social groups and the media; and ‘personal’ events, such as those relating to crime or accidental injury. Even among respondents deemed to be ‘well-calibrated’ in the domain of pure chance events we find limited sensitivity to the ‘temporal scope’ of public and personal events—this being especially marked for personal events. We discuss possible reasons and some implications for policy-related survey work. Copyright Springer Science+Business Media, LLC 2007
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Bibliographic InfoArticle provided by Springer in its journal Journal of Risk and Uncertainty.
Volume (Year): 34 (2007)
Issue (Month): 3 (June)
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Web page: http://www.springerlink.com/link.asp?id=100299
Subjective probability; Elicitation methods; Survey methods; Scope sensitivity; C42; C81; D84;
Find related papers by JEL classification:
- C42 - Mathematical and Quantitative Methods - - Econometric and Statistical Methods: Special Topics - - - Survey Methods
- C81 - Mathematical and Quantitative Methods - - Data Collection and Data Estimation Methodology; Computer Programs - - - Methodology for Collecting, Estimating, and Organizing Microeconomic Data
- D84 - Microeconomics - - Information, Knowledge, and Uncertainty - - - Expectations; Speculations
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