Template-type: ReDif-Paper 1.0
Author-Name: Dohmen Thomas 
Author-Name: Falk Armin 
Author-Name: Huffman David 
Author-Name: Marklein Felix 
Author-Name: Sunde Uwe 
Author-workplace-name: ROA rm
Title: Biased Probability Judgment: Representative Evidence for Pervasiveness and Economic Outcomes
Abstract: Many economic decisions involve a substantial amount of uncertainty, andtherefore crucially depend on how individuals process probabilistic information. Inthis paper, we investigate the capability for probability judgment in a representativesample of the German population. Our results show that almost a third of therespondents exhibits systematically biased perceptions of probability. The findingsalso indicate that the observed biases are related to observed outcomes, whichindicates the policy relevance of our findings.
Keywords: education, training and the labour market; 
Series: Research Memoranda
Creation-Date: 2008
Number: 008
File-URL: http://digitalarchive.maastrichtuniversity.nl/fedora/objects/guid:9bb0e854-820e-416d-b5e7-f9d63c171240/datastreams/ASSET1/content
File-Format: application/pdf
File-Size: 253143
Handle: RePEc:unm:umaror:2008008