Morone, Andrea
Özdemir, Özlem
Different from previous experiments that used three representations of uncertain information for probabilities: best estimate, interval and sets of probabilities, we use visual display to represent different levels of uncertainty through varying amount of probabilistic information provided to subjects. Results confirm that the individuals willingness to pay is higher when a larger amount of information is available. Further, individuals are found uncertainty averse for high probability of gain and uncertainty seekers for low probability of gain. Similarities in results across different representations of uncertainty indicate that the representation tested here is a viable method for communicating uncertainty to decision makers.


Testing the quantity theory of money in Greece
Ozmen, E (Informa UK Limited, 2003-12-15)
This paper investigates whether the Greek data actually support the monetarist hypotheses as argued by Karfakis. The results based on both ARDL and Johansen procedures consistently suggest that money and nominal income (prices) are endogenous for the parameters of the long-run evolution of velocity (real money balances). Thus, the basic postulation of monetarism, the exogeneity of money, appears not to be supported by the Greek data.
Critical realism as a rival methodology for institutional economics
Gürpınar, Erkan; Özveren, Eyüp; Department of Economics (2008)
The aim of the thesis is to clarify the methodology of the original institutional economics and then to evaluate the current attempts to utilize critical realism as a superior methodology for it. After sketching the historical background of the discussions surrounding methodology of science and 19th century economic methodology, the thesis separately analyses the methodology of institutional economics and critical realist stance in the philosophy of science. A critical discussion of the subject matter reach...
Use of a priori information in estimating tissue resistivities-application to measured data
Baysal, U; Eyüboğlu, Behçet Murat (IOP Publishing, 1999-07-01)
A statistically constrained minimum mean squares error estimator (MiMSEE) has been shown to be useful in estimating internal resistivity distribution by the use of simulated data. In this study, the performance of the MiMSEE algorithm is tested by using measured data from resistor phantoms. The MiMSEE uses a priori information on body geometry, electrode position, statistical properties of tissue resistivities, instrumentation noise and linearization error to calculate the optimum inverse matrix which maps ...
Performance evaluation using data envelopment analysis in the presence of time lags
Ozpeynirci, Ozgur; Köksalan, Mustafa Murat (Springer Science and Business Media LLC, 2007-06-01)
Data Envelopment Analysis (DEA) is a methodology that computes efficiency values for decision making units (DMU) in a given period by comparing the outputs with the inputs. In many applications, inputs and outputs of DMUs are monitored over time. There might be a time lag between the consumption of inputs and the production of outputs. We develop an approach that aims to capture the time lag between the outputs and the inputs in assigning the efficiency values to DMUs. We propose using weight restrictions i...
Disinflation and exchange-rate pass-through
Senay, Ozge (Cambridge University Press (CUP), 2008-04-01)
This paper analyzes exchange-rate dynamics following a money-based disinflation under different degrees of exchange-rate pass-through. Using a microfounded dynamic general equilibrium model with imperfect competition and nominal rigidities, it is shown that a monetary slowdown causes an appreciation of the exchange rate and a short-run fall in employment. Varying the degree of pass-through, however, significantly alters the magnitudes of these effects. As the degree of pass-through is reduced, the extent of...
Citation Formats
A. Morone and Ö. Özdemir, “DISPLAYING UNCERTAIN INFORMATION ABOUT PROBABILITY: EXPERIMENTAL EVIDENCE,” BULLETIN OF ECONOMIC RESEARCH, pp. 157–171, 2012, Accessed: 00, 2020. [Online]. Available: https://hdl.handle.net/11511/48327.