New and Old Biases in Subjective Probability Distributions: Do They Exist and are They Affected by Elicitation Procedures.
Abstract : Past research indicates that people exhibit biases in assessing probability distributions on continuous variables. Three types of biases have been identified: too many true values falling into the extreme tails of the distributions, a displacement toward 50% for distributions assessed on percentages, and a general tendency to underestimate. This study explored the nature of these biases with particular emphasis on how they interact and how they are affected by the procedure used to elicit the distributions.
We examine the antecedents of customer satisfaction in the restaurant sector, paying particular attention to perceived value and price level. Using Latent Dirichlet Allocation, we extract latent topics from the text of Yelp! reviews, then analyze the relationship between these topics and satisfaction, measured as the difference between review rating and user average review rating.