Guillaume Hollard

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It has long been observed that players in experimental games differ in their strategic ability. In particular, some players seem to lack any strategic ability whatsoever. These non-strategic players have not however been analyzed per se to date. Using a controlled experiment, we find that half of our subjects act non-strategically, i.e. they do not react to(More)
Since they have been increasingly used in economics, elicitation rules for subjective beliefs are under scrutiny. In this paper, we propose an experimental design to compare the performance of such rules. Contrary to previous works in which elicited beliefs are compared to an objective benchmark, we consider a pure subjective belief framework (confidence in(More)
When it comes to interpreting others' behaviour, we almost irrepressibly engage in the attribution of mental states (beliefs, emotions…). Such "mentalizing" can become very sophisticated, eventually endowing us with highly adaptive skills such as convincing, teaching or deceiving. Here, sophistication can be captured in terms of the depth of our recursive(More)
This article addresses the important issue of anchoring in contingent valuation surveys that use the double-bounded elicitation format. Anchoring occurs when responses to the follow-up dichotomous choice valuation question are influenced by the bid presented in the initial dichotomous choice question. Specifically, we adapt a theory from psychology to(More)
In this article, we develop a dichotomous choice model with follow-up questions that describes the willingness to pay being uncertain in an interval. The initial response is subject to starting point bias. Our model provides an alternative interpretation of the starting point bias in the dichotomous choice valuation surveys. Using the Exxon Valdez survey,(More)
  • Emmanuel Flachaire Eurequa, Université Paris, Panthéon-Sorbonne, Guillaume Hollard
  • 2005
In this paper, we study starting point bias in double-bounded contingent valuation surveys. This phenomenon arises in applications that use multiple valuation questions. Indeed, response to follow-up valuation questions may be influenced by the bid proposed in the initial valuation question. Previous researches have been conducted in order to control for(More)
Surveys are sometimes viewed with suspicion when used to provide economic values, since they have been proved to be sensitive to framing effects. However, the extent to which those effects may vary between individuals has received little attention. Are some individuals less sensitive to framing effects than others ? How to detect them ? These are the(More)
Spatial models of voting have dominated mathematical political theory since the seminal work of Downs. The Downsian model assumes that each elector votes on the basis of his utility function which depends only on the distance between his preferred policy platform and the ones proposed by candidates. A succession of papers introduces valence issues into the(More)
To understand how decisions to invest in stocks are taken, economists need to elicit expectations regarding risk-return trade-off. One of the few surveys which has elicited such expectations is the Survey of Economic Expectations in 1999-2001. Using the data from this survey, Dominitz and Manski find considerable heterogeneity across respondents that cannot(More)