We use cookies to create the best experience for you. Keep on browsing if you are OK with that, or find out how to manage cookies.
Nobody downloaded yet

It is an article for my experimental economy class to summary - Essay Example

Comments (0) Cite this document
Summary
Summary: Anomalies, Preference Reversals Introduction Economics as a subject may be differentiated from other social sciences from the fact that the latter assumes in most, if not all, cases people’s actions are analyzed assuming that they have well defined and stable preferences (Tversky and Thaler 201)…
Download paper
GRAB THE BEST PAPER
It is an article for my experimental economy class to summary
Read TextPreview

Extract of sample
It is an article for my experimental economy class to summary

The standard preference demands that a specified amount of money has to be invested by people to save their lives. Depending on the economy, there is the assumption that the procedure of invariance is not unique to the study of preference. Invariance arises when the money is invested monthly or yearly but the money is not fully utilized. When accidents and injuries do not happen, the people who pay monthly feel that their money is being wasted causing some to withdraw payments. Violations of transitivity arise when preference reversal implicates the payoff schemes as means of exploiting cash from desperate clients. Main Findings of the Article Several major findings include first, intransitivity alone accounts for a very small portion of the preference reversal patterns. This means that the subjects are supposed to pay a lesser amount of money in cases where a client does not incur regular accidents. The irregularity where clients experience delayed compensation despite claiming on time. Secondly, preference reversal is hardly affected by the payoff scheme hence not attributed to the failure of expected utility theory. This means that it cannot be used to explain the violations and independency complains from clients. In addition to this, predictions that clients will get accidents cause them to pay. ... Read More
Cite this document
  • APA
  • MLA
  • CHICAGO
(“It is an article for my experimental economy class to summary Essay”, n.d.)
Retrieved from https://studentshare.net/other/16382-it-is-an-article-for-my-experimental-economy-class
(It Is an Article for My Experimental Economy Class to Summary Essay)
https://studentshare.net/other/16382-it-is-an-article-for-my-experimental-economy-class.
“It Is an Article for My Experimental Economy Class to Summary Essay”, n.d. https://studentshare.net/other/16382-it-is-an-article-for-my-experimental-economy-class.
  • Cited: 0 times
Comments (0)
Click to create a comment
CHECK THESE SAMPLES - THEY ALSO FIT YOUR TOPIC
Experimental economics summary paper
The basic assumption presented in the article is that in the bargaining situation in the Ultimatum Game, the allocators will tend to offer something closer to zero while the recipients will receive something positive offer. Something positive may be uncertain because the article presented some facts that recipients somehow have either rational or irrational reasons (Thaler 202).
2 Pages(500 words)Essay
Experimental economics summary paper
The economic point of view specifically states that interest and personal consumption are highly associated, more consumption is preferred than less and current and future consumptions influence behavior (Berg, Dickhaut, & McCabe 122). In line with this assumption, there is a need to challenge existing belief that an individual’s self-interested behavior prevails in the social context of the economic standpoint.
2 Pages(500 words)Essay
Experimental economics summary paper
The authors indicated that the game would require a “volunteer” in order to enjoy a stipulated benefit by all participants of the game. Equilibrium properties were used to predict the outcomes of the probabilities of volunteering depending on the size of the group: the Nash predictions that contend that the probability of volunteering decreases as the number of members in a group increases, attributed to a “diffusion of responsibility” (Goeree, et.al, 3); the quantal response equilibrium (QRE) which incorporates the effects of noice factors requiring “choice probabilities to be consistent with beliefs” (ibid, 4); and the inequity aversion that indicates that “a person who volun
2 Pages(500 words)Essay
Experimental economics summary paper
They focus was on Jerusalem, Tokyo, Pittsburg and Ljubljana in Israel, Japan, USA and Yugoslavia, respectively. The researchers state that these locations were picked since they were ideal for the experiment and equilibrium-point predictions were available to use as control experiments in gauging accuracy.
2 Pages(500 words)Essay
Experimental economics summary paper
The experiment consisted of 12 experimental sessions. The laboratory design of each experiment question consisted of an auction market with four buyers and sellers. Buyers made money by buying from the sellers and reselling to the experimenter, while sellers made money by buying from the experimenter and reselling to the buyers.
2 Pages(500 words)Essay
The Learning Environment
I work in Lincoln High School, one of the lowest performing schools in Los Angeles Unified School District (LAUSD), but the vibrancy and the coarse unpolished brilliance of the students is not reflected in standardized test scores and drop-out rates. It is this rough-around-the-edges academic atmosphere that intrigued me and led me to consider the factors responsible for the low scores and the lack of college-bound motivation amongst the students at my school.
46 Pages(11500 words)Essay
It is an article for my experimental economy class to summary
A study has been conducted to know if all economists behave in the same way as the none-economists or differently. If any difference existed, the study was meant to
2 Pages(500 words)Essay
It is an article for my experimental economy class to summary
There are three alternative interpretations of preference reversals. These alternatives normally arise from violations of transitivity, independency and
2 Pages(500 words)Essay
Experimental economics summary paper
Status Quo Bias involves a bias for the present state and not accepting changes. Loss aversion states that the disadvantage in losing an object is considered greater than the advantage of acquiring an object. The research paper explores the relation
2 Pages(500 words)Essay
Article summary for criminal justice class
In the true essence, pleasure and freedom from pain are the ultimate desirables according to the theory of utilitarianism. There is lack of clarity about what constitutes pleasure or happiness and the standards of happiness vary among humans and animals. Despite humans
2 Pages(500 words)Essay
Let us find you another Essay on topic It is an article for my experimental economy class to summary for FREE!
Contact us:
+16312120006
Contact Us Now
FREE Mobile Apps:
  • About StudentShare
  • Testimonials
  • FAQ
  • Blog
  • Free Essays
  • New Essays
  • Essays
  • The Newest Essay Topics
  • Index samples by all dates
Join us:
Contact Us