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Incentive-compatible surveys via posterior probabilities
J. Cvitanica, D. Prelecbc, S. Radasdb, H. Sikice a California Institute of Technology, Division of the Humanities and Social Sciences, Pasadena, CA, USA
b Massachusetts Institute of Technology, Sloan School of Management, Cambridge, MA, USA
c Massachusetts Institute of Technology, Department of Economics, Department of Brain and Cognitive Sciences, Cambridge, MA, USA
d The Institute of Economics, Zagreb, Republic of Croatia
e University of Zagreb, Faculty of Science, Department of Mathematics, Zagreb, Republic of Croatia
Abstract:
We consider the problem of eliciting truthful responses to a survey question
when the respondents share a common prior that the survey planner is agnostic
about. The planner would therefore like to have a “universal” mechanism, which
would induce honest answers for all possible priors. If the planner also
requires a locality condition that ensures that the mechanism payoffs are
determined by the respondents'
posterior probabilities of the true state of nature, we prove that, under
additional smoothness and sensitivity conditions, the payoff in the
truth-telling equilibrium must be a logarithmic function of those posterior
probabilities. Moreover, the respondents are necessarily ranked according to
those probabilities. Finally, we discuss implementation issues.
Keywords:
proper scoring rules, robust/universal mechanisms, Bayesian truth serum,
mechanism implementation, ranking experts.
Received: 07.10.2018
Citation:
J. Cvitanic, D. Prelec, S. Radas, H. Sikic, “Incentive-compatible surveys via posterior probabilities”, Teor. Veroyatnost. i Primenen., 65:2 (2020), 368–408; Theory Probab. Appl., 65:2 (2020), 292–321
Linking options:
https://www.mathnet.ru/eng/tvp5351https://doi.org/10.4213/tvp5351 https://www.mathnet.ru/eng/tvp/v65/i2/p368
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Abstract page: | 321 | Full-text PDF : | 62 | References: | 34 | First page: | 11 |
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