Article ID Journal Published Year Pages File Type
5062512 Economics Letters 2007 5 Pages PDF
Abstract

Using surveys, this paper shows that a nominal increase in likelihood has a relatively small effect on individual's own perception of likelihood, but a large and robust effect on beliefs about the perception of likelihood by others. These beliefs are consistent with actual choices.

Keywords
Related Topics
Social Sciences and Humanities Economics, Econometrics and Finance Economics and Econometrics
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AnalysisNominal increases and the perception of likelihood
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