The impossibility of experimental elicitation of subjective probabilities

Edi Karni*, Zvi Safra

*Corresponding author for this work

Research output: Contribution to journalArticlepeer-review

Abstract

We show that if decision makers may have stakes in certain events then the experimental elicitation of their subjective probabilities of these events is impossible.

Original languageEnglish
Pages (from-to)313-320
Number of pages8
JournalTheory and Decision
Volume38
Issue number3
DOIs
StatePublished - May 1995

Keywords

  • Subjective probability
  • elicitation of probabilities
  • experimental economics
  • state-dependent utility

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