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Obvious belief elicitation

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  • Tsakas, Elias

Abstract

An investigator is interested in arbitrarily approximating a subject's latent beliefs in obviously dominant strategies (Li, 2017). We prove that Karni's ascending mechanism (Karni, 2009) does not have an obviously dominant strategy. Thus, we introduce the novel descending Karni mechanism which always has obviously dominant strategies. Furthermore, under the assumption that the subject chooses an obviously dominant strategy, the true beliefs can be approximated with arbitrary precision with our mechanism. All our results hold for a very broad class of likelihood relations, going well beyond those that are represented by probabilistic beliefs.

Suggested Citation

  • Tsakas, Elias, 2019. "Obvious belief elicitation," Games and Economic Behavior, Elsevier, vol. 118(C), pages 374-381.
    • Handle: RePEc:eee:gamebe:v:118:y:2019:i:c:p:374-381
    DOI: 10.1016/j.geb.2019.07.002
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    References listed on IDEAS

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    1. Edi Karni, 2009. "A Mechanism for Eliciting Probabilities," Econometrica, Econometric Society, vol. 77(2), pages 603-606, March.
    2. Charles F. Manski, 2004. "Measuring Expectations," Econometrica, Econometric Society, vol. 72(5), pages 1329-1376, September.
    3. Shengwu Li, 2017. "Obviously Strategy-Proof Mechanisms," American Economic Review, American Economic Association, vol. 107(11), pages 3257-3287, November.
    4. Kagel, John H & Harstad, Ronald M & Levin, Dan, 1987. "Information Impact and Allocation Rules in Auctions with Affiliated Private Values: A Laboratory Study," Econometrica, Econometric Society, vol. 55(6), pages 1275-1304, November.
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    Cited by:

    1. Mackenzie, Andrew, 2020. "A revelation principle for obviously strategy-proof implementation," Games and Economic Behavior, Elsevier, vol. 124(C), pages 512-533.
    2. Elias Tsakas, 2021. "Identification of misreported beliefs," Papers 2112.12975, arXiv.org.

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    More about this item

    Keywords

    Belief elicitation; Karni mechanism; Obvious dominance;
    All these keywords.

    JEL classification:

    • C90 - Mathematical and Quantitative Methods - - Design of Experiments - - - General
    • C91 - Mathematical and Quantitative Methods - - Design of Experiments - - - Laboratory, Individual Behavior
    • D81 - Microeconomics - - Information, Knowledge, and Uncertainty - - - Criteria for Decision-Making under Risk and Uncertainty
    • D82 - Microeconomics - - Information, Knowledge, and Uncertainty - - - Asymmetric and Private Information; Mechanism Design
    • D83 - Microeconomics - - Information, Knowledge, and Uncertainty - - - Search; Learning; Information and Knowledge; Communication; Belief; Unawareness

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