Imperfect Perception and Stochastic Choice in Experiments
Published on 24. January 2024
978-1-009-05886-5 (ISBN)
Description
The branch of psychology that studies how physical objects are perceived by subjects is known as psychophysics. A feature of the experimental design is that the experimenter presents objectively measurable objects that are imperfectly perceived by subjects. The responses are stochastic in that a subject might respond differently in otherwise identical situations. These stochastic choices can be compared to the objectively measurable properties. This Element offers a brief introduction to the topic, explains how psychophysics insights are already present in economics, and describes experimental techniques with the goal that they are useful in the design of economics experiments. Noise is a ubiquitous feature of experimental economics and there is a large strand of economics literature that carefully considers the noise. However, the authors view the psychophysics experimental techniques as uniquely suited to helping experimental economists uncover what is hiding in the noise.
More details
Series
Language
English
Place of publication
Cambridge
United Kingdom
Target group
College/higher education
Illustrations
Worked examples or Exercises
File size
1,50 MB
ISBN-13
978-1-009-05886-5 (9781009058865)
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Schweitzer Classification
Other editions
Additional editions
Pablo Branas-Garza | John Alan Smith
Imperfect Perception and Stochastic Choice in Experiments
Book
02/2024
Cambridge University Press
€24.00
Shipment within 15-20 days
Pablo Branas-Garza | John Alan Smith
Imperfect Perception and Stochastic Choice in Experiments
Book
02/2024
Cambridge University Press
€78.00
Shipment within 15-20 days
Persons
Content
1. The apparently random coffee purchases of a colleague; 2. A brief introduction to the psychophysics literature; 3. Psychophysics insights already in the economics literature; 4. Models that are difficult to test without psychophysics experimental techniques; 5. Incentivized perceptual decision-making literature; 6. Possible directions for experimental economics; References.
