Endogenous sample selection: A laboratory study

Artikel

Accounting for sample selection is a challenge not only for empirical researchers, but also for the agents populating our models. Yet most models abstract from these issues and assume that agents successfully tackle selection problems. We design an experiment where a person who understands selection observes all the data required to account for it. Subjects make choices under uncertainty and their choices reveal valuable information that is biased due to the presence of unobservables. We find that almost no subjects optimally account for endogenous selection. On the other hand, behavior is far from random, but actually quite amenable to analysis: Subjects follow simple heuristics that result in a partial accounting of selection and mitigate mistakes.

Angaben zum Objekt

• Sprache: Englisch

Verweise und Beziehungen

• Erschienen in: Journal: Quantitative Economics ; ISSN: 1759-7331 ; Volume: 9 ; Year: 2018 ; Issue: 1 ; Pages: 183-216 ; New Haven, CT: The Econometric Society

Klassifikation und Themen

• Klassifikation: Wirtschaft ; Design of Experiments: Laboratory, Individual ; Search; Learning; Information and Knowledge; Communication; Belief; Unawareness
• Thema: Contingent thinking ; learning ; sample selection

Beteiligte, Orts- und Zeitangaben

• Ereignis: Geistige Schöpfung
• (wer): Esponda, Ignacio ; Vespa, Emanuel
• Ereignis: Veröffentlichung
• (wer): The Econometric Society
• (wo): New Haven, CT
• (wann): 2018

Weitere Informationen

• DOI: doi:10.3982/QE650
• Handle: http://hdl.handle.net/10419/195566
• Letzte Aktualisierung: 20.09.2024, 08:24 MESZ