On extreme perception bias

Abstract

© 2020 by De La Salle University. This note investigates perception bias: To what extent do individual opinions confound reality? We estimated the relative gap between self-declared estimates and real data. With a sample of respondents from Laguna, Philippines, we asked about the prevalence of diabetes and smartphone usage. We observed a trend of judgment miscalibration. Responses exhibit significant deviation from facts; for example, inaccuracies can go as high as seven times the real value. Especially for estimates on smartphone ownership, bootstrapped quantile regression models showed that perception bias is associated with age.

Source or Periodical Title

DLSU Business and Economics Review

ISSN

1167111

Page

81-92

Document Type

Article

Subject

Bootstrapping, Overestimation, Perception, Quantile regression

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