Please use this identifier to cite or link to this item:
http://hdl.handle.net/2072/42001
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| Title: | Efficient Interval Scoring Rules |
| Authors: | Schlag, Karl H.
Weele, Joël van der |
| Other authors: | Universitat Pompeu Fabra. Departament d'Economia i Empresa |
| Subjects: | Belief elicitation, scoring rules, subjective probabilities |
| Creation Date: | Oct-2009 |
| Series/Report no.: | Economics and Business Working Papers Series; 1176 |
| Abstract: | Scoring rules that elicit an entire belief distribution through the elicitation of point beliefs are time-consuming and demand considerable cognitive e¤ort. Moreover, the results are valid only when agents are risk-neutral or when one uses probabilistic rules. We investigate a class of rules in which the agent has to choose an interval and is rewarded (deterministically) on the basis of the chosen interval and the realization of the random variable. We formulate an e¢ ciency criterion for such rules and present a speci.c interval scoring rule. For single- peaked beliefs, our rule gives information about both the location and the dispersion of the belief distribution. These results hold for all concave utility functions. |
| Appears in Collections: | Economics and Business Working Papers Series
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