Ps. I should have pointed out that the students who answered this thing
had just had a lecture on the violations of economic theory, which
highlighted much of the behaviour that they then themselves displayed.
Sent: 05 March 2012 14:29
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Thanks for those of you who answered my questions last week. I was
testing out some of the assumptions of economic theory. Actually, only
21 of you answered, so the altruism critique of the standard approach
may not stand up. I knew that already though.
For those of you who did answer, your results supplemented some numbers
that I got from students. In the attachment, your results are the ones
in red. I suppose the main point is that the tests of risk attitude
suggest something that may be at odds with both standard economic
theory, and with prospect theory. I might try to do a proper controlled
experiment around that at some point.
<< File: BPP class results.doc >>
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