Topic
Experimental Finding
About: Experimental Finding is a research topic. Over the lifetime, 3 publications have been published within this topic receiving 17 citations.
Papers
1 Mar 2005
TL;DR: It is demonstrated that base-rate neglect may lead to imperfect information acquisition and an application to the pricing of new financial assets as well as general implications for the socially optimal pricing of information are discussed.
Abstract: Base-rate neglect is a robust experimental finding that individuals do not update their prior beliefs according to the Bayes' rule and, typically, underestimate their posterior probabilities. Another empirical finding is that individuals often do not acquire information even when there are no strategic considerations and the cost of new information is justifiableneconomically. This paper combines these two different fields of research. Specifically, it is demonstrated that base-rate neglect may lead to imperfectninformation acquisition. An application to the pricing of new financial assets as well as general implications for the socially optimal pricing of information are discussed.
11 citations
1 Jan 2011
10 citations
Posted Content•
TL;DR: In this paper, the authors present a theoretical framework that aims at providing insights into the mechanics of proper inference, and they suggest that a decision about whether to call an experimental finding noteworthy, or deserving of great attention, should be based on the calculated post-study probability.
Abstract: Maniadis et al. (2013) present a theoretical framework that aims at providing insights into the mechanics of proper inference. They suggest that a decision about whether to call an experimental finding noteworthy, or deserving of great attention, should be based on the calculated post-study probability. Although I in large agree with most points in Maniadis et al. (2013), this note raises some important caveats.
Related Topics (5)
Performance Metrics
| Year | Papers |
|---|---|
| 2013 | 1 |
| 2011 | 1 |
| 2005 | 1 |