Objective
Many areas of economics use subjective data. In use of subjective data the crucial question is how much confidence one can have in truthfulness of respondents' answers. Resolving this problem would improve reliability of current uses of subjective data and also open up new possibilities of use. One solution to this problem is presented by Bayesian Truth serum (BTS). BTS is a game-theoretic scoring system that takes as inputs respondents’ answers to questions, as well as their probabilistic predictions about the distribution of answers in the sample. It induces truthful answers from a sample of rational, i.e. Bayesian, expected value maximizing respondents. The method allows for collecting data on issues that are not common knowledge of neither respondents nor experimenters. In particular, BTS can be applied to judgments involving counter-factual or conditional scenarios, such as arise naturally in policy discussions. BTS is a very new methodology that is currently being experimentally validated through a large scale project IARPA RFI-10-01 at MIT, starting from 2011. The BTS method offers various opportunities for application to economic and social sciences. This project proposes to apply the BTS method to innovation research by making adaptations to the BTS so it can be embedded in the conjoint analysis. Conjoint analysis is a methodology widely used across industries and in public sector for preference elicitation related to new products, services or policies. Conjoint analysis allows for designing products/services/policies with the ideal combination of features thus increasing probability of successful introduction. As all methods that use primary data collected through surveys, conjoint analysis crucially depends on the truthfulness of the subjective data. BTS in this setting can improve the ability to accurately assess user preferences, and in this way improve decision making of innovator developers in private and public sector.
Fields of science (EuroSciVoc)
CORDIS classifies projects with EuroSciVoc, a multilingual taxonomy of fields of science, through a semi-automatic process based on NLP techniques. See: https://op.europa.eu/en/web/eu-vocabularies/euroscivoc.
CORDIS classifies projects with EuroSciVoc, a multilingual taxonomy of fields of science, through a semi-automatic process based on NLP techniques. See: https://op.europa.eu/en/web/eu-vocabularies/euroscivoc.
- social sciences economics and business business and management innovation management
- social sciences economics and business economics
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Programme(s)
Multi-annual funding programmes that define the EU’s priorities for research and innovation.
Multi-annual funding programmes that define the EU’s priorities for research and innovation.
Topic(s)
Calls for proposals are divided into topics. A topic defines a specific subject or area for which applicants can submit proposals. The description of a topic comprises its specific scope and the expected impact of the funded project.
Calls for proposals are divided into topics. A topic defines a specific subject or area for which applicants can submit proposals. The description of a topic comprises its specific scope and the expected impact of the funded project.
Call for proposal
Procedure for inviting applicants to submit project proposals, with the aim of receiving EU funding.
Procedure for inviting applicants to submit project proposals, with the aim of receiving EU funding.
FP7-PEOPLE-2013-IOF
See other projects for this call
Funding Scheme
Funding scheme (or “Type of Action”) inside a programme with common features. It specifies: the scope of what is funded; the reimbursement rate; specific evaluation criteria to qualify for funding; and the use of simplified forms of costs like lump sums.
Funding scheme (or “Type of Action”) inside a programme with common features. It specifies: the scope of what is funded; the reimbursement rate; specific evaluation criteria to qualify for funding; and the use of simplified forms of costs like lump sums.
Coordinator
10000 Zagreb
Croatia
The total costs incurred by this organisation to participate in the project, including direct and indirect costs. This amount is a subset of the overall project budget.