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Replication: Belief elicitation with quadratic and binarized scoring rules

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  • Erkal, Nisvan
  • Gangadharan, Lata
  • Koh, Boon Han

Abstract

Researchers increasingly elicit beliefs to understand the underlying motivations of decision makers. Two commonly used methods are the quadratic scoring rule (QSR) and the binarized scoring rule (BSR). Hossain and Okui (2013) use a within-subject design to evaluate the performance of these two methods in an environment where subjects report probabilistic beliefs over binary outcomes with objective probabilities. In a near replication of their study, we show that their results continue to hold with a between-subject design. This is an important validation of the BSR given that researchers typically implement only one method to elicit beliefs. In favor of the BSR, reported beliefs are less accurate under the QSR than the BSR. Consistent with theoretical predictions, risk-averse subjects distort their reported beliefs under the QSR.

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  • Erkal, Nisvan & Gangadharan, Lata & Koh, Boon Han, 2020. "Replication: Belief elicitation with quadratic and binarized scoring rules," Journal of Economic Psychology, Elsevier, vol. 81(C).
    • Handle: RePEc:eee:joepsy:v:81:y:2020:i:c:s0167487020300763
    DOI: 10.1016/j.joep.2020.102315
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    References listed on IDEAS

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    Cited by:

    1. Folli, Dominik & Wolff, Irenaeus, 2022. "Biases in belief reports," Journal of Economic Psychology, Elsevier, vol. 88(C).
    2. Aksoy, Billur & Chadd, Ian & Koh, Boon Han, 2023. "Sexual identity, gender, and anticipated discrimination in prosocial behavior," European Economic Review, Elsevier, vol. 154(C).
    3. Erkal, Nisvan & Gangadharan, Lata & Koh, Boon Han, 2023. "Do women receive less blame than men? Attribution of outcomes in a prosocial setting," Journal of Economic Behavior & Organization, Elsevier, vol. 210(C), pages 441-452.
    4. Burdea, Valeria & Woon, Jonathan, 2022. "Online belief elicitation methods," Journal of Economic Psychology, Elsevier, vol. 90(C).
    5. Nisvan Erkal & Lata Gangadharan & Boon Han Koh, 2022. "By chance or by choice? Biased attribution of others’ outcomes when social preferences matter," Experimental Economics, Springer;Economic Science Association, vol. 25(2), pages 413-443, April.
    6. Lata Gangadharan & Philip J. Grossman & Nina Xue, 2022. "Stepping Stone: Identifying self-image concerns from motivated beliefs: Does it matter how and whom you ask?," Monash Economics Working Papers 2022-05, Monash University, Department of Economics.
    7. Nisvan Erkal & Lata Gangadharan & Boon Han Koh, 2021. "Gender Biases in Performance Evaluation: The Role of Beliefs Versus Outcomes," University of East Anglia School of Economics Working Paper Series 2021-09, School of Economics, University of East Anglia, Norwich, UK..
    8. Lata Gangadharan & Philip J. Grossman & Nina Xue, 2021. "Identifying self-image concerns from motivated beliefs: Does it matter how and whom you ask?," Monash Economics Working Papers 2021-17, Monash University, Department of Economics.
    9. Nisvan Erkal & Lata Gangadharan & Boon Han Koh, 2023. "Discrimination in Evaluation Criteria: The Role of Beliefs versus Outcomes," Discussion Papers 2316, University of Exeter, Department of Economics.
    10. Alexander Coutts & Boon Han Koh & Zahra Murad, 2024. "The signals we give: Performance feedback, gender, and competition," Working Papers in Economics & Finance 2024-02, University of Portsmouth, Portsmouth Business School, Economics and Finance Subject Group.
    11. Charness, Gary & Gneezy, Uri & Rasocha, Vlastimil, 2021. "Experimental methods: Eliciting beliefs," Journal of Economic Behavior & Organization, Elsevier, vol. 189(C), pages 234-256.
    12. Sofianos, Andis, 2022. "Self-reported & revealed trust: Experimental evidence," Journal of Economic Psychology, Elsevier, vol. 88(C).
    13. Charles A. Holt & Sean P. Sullivan, 2023. "Permutation tests for experimental data," Experimental Economics, Springer;Economic Science Association, vol. 26(4), pages 775-812, September.

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    More about this item

    Keywords

    Belief elicitation; Risk preferences; Experimental methodology; Scoring rules; Prediction accuracy;
    All these keywords.

    JEL classification:

    • 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
    • D83 - Microeconomics - - Information, Knowledge, and Uncertainty - - - Search; Learning; Information and Knowledge; Communication; Belief; Unawareness

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