Reliability (or 'lack thereof') of on-line preference revelation: A controlled experimental analysis
| Autor: | Zhongju Zhang, Li Chen, James R. Marsden |
|---|---|
| Rok vydání: | 2013 |
| Předmět: |
Information revelation
Controlled experiment Information Systems and Management Preference revelation Emerging technologies Information aggregation Information market Survey accuracy Outcome (game theory) Preference Management Information Systems Arts and Humanities (miscellaneous) Ranking Developmental and Educational Psychology Economics Marketing Survey reliability Set (psychology) Reliability (statistics) Information Systems |
| Zdroj: | Decision Support Systems. 56:270-274 |
| ISSN: | 0167-9236 |
| DOI: | 10.1016/j.dss.2013.06.010 |
| Popis: | Networks permitting anonymous contributions continue to expand and flourish. In some networks, the reliability of a contribution is not of particular importance. In other settings, however, the development of a network is driven by specific purposes which make the reliability of information exchanged of significant importance. One such situation involves the use of information markets for aggregating individuals' preferences on new or emerging technologies. At this point, there remains skepticism concerning the reliability of the preference revelations in such markets and thus the resulting preference aggregations and rankings of emerging technologies. In this paper, we study the reliability of on-line preference revelation using a series of controlled laboratory experiments. Our analysis includes individuals' pre- and post-experiment rankings of technologies, individual trading and accumulation activities during an electronics market experiment, the final experimental market outcomes, and a ranking of the same technologies by a panel of experts from a Fortune 5 company. In addition, as a final step, we allowed each participant to actually select and keep a unit of one of the technologies at zero price (free). That is, we were able to observe each participant's actual final true preference from the set of technologies. Outcome from information market is much consistent with expert panel.Information market does influence individual preferences.There is considerable inconsistency between survey and individual true preferences. |
| Databáze: | OpenAIRE |
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