Time is Knowledge: What Response Times Reveal

Jean-Michel Benkert, Shuo Liu, Nick Netzer
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Abstract

Response times contain information about economically relevant but unobserved variables like willingness to pay, preference intensity, quality, or happiness. Here, we provide a general characterization of the properties of latent variables that can be detected using response time data. Our characterization generalizes various results in the literature, helps to solve identification problems of binary response models, and paves the way for many new applications. We apply the result to test the hypothesis that marginal happiness is decreasing in income, a principle that is commonly accepted but so far not established empirically.
时间就是知识:响应时间揭示了什么
响应时间包含与经济相关但未观察到的变量信息,如支付意愿、偏好强度、质量或幸福感。在此,我们提供了利用响应时间数据可以检测到的潜在变量属性的一般描述。我们的表征概括了文献中的各种结果,有助于解决二元响应模型的识别问题,并为许多新应用铺平了道路。我们将这一结果应用于检验边际幸福感随收入递减的假设,这一原则已被普遍接受,但迄今为止尚未在实证中得到证实。
本文章由计算机程序翻译,如有差异,请以英文原文为准。
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