A Truth Serum for Non-Bayesians: Correcting Proper Scoring Rules for Risk Attitudes<xref ref-type="fn" rid="FN11">*</xref>

S-Tier
Journal: Review of Economic Studies
Year: 2009
Volume: 76
Issue: 4
Pages: 1461-1489

Score contribution per author:

2.011 = (α=2.01 / 4 authors) × 4.0x S-tier

α: calibrated so average coauthorship-adjusted count equals average raw count

Abstract

Proper scoring rules provide convenient and highly efficient tools for incentive-compatible elicitations of subjective beliefs. As traditionally used, however, they are valid only under expected value maximization. This paper shows how they can be generalized to modern ("non-expected utility") theories of risk and ambiguity, yielding mutual benefits: users of scoring rules can benefit from the empirical realism of non-expected utility, and analysts of ambiguity attitudes can benefit from efficient measurements using proper scoring rules. An experiment demonstrates the feasibility of our generalization. Copyright 2009, Wiley-Blackwell.

Technical Details

RePEc Handle
repec:oup:restud:v:76:y:2009:i:4:p:1461-1489
Journal Field
General
Author Count
4
Added to Database
2026-01-25