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Brie?y describe the preference reversal phenomenon, and explain how Grether and Plott's (1979) experimental design deals with anchoring as one of its possible causes.
Using a drawing of a concave utility function, demonstrate how expected utility the ory cannot explain preference for an 80% chance of losing $4,000 to a sure loss of $3,000. This example is taken from problem 3' in Kahneman and Tversky's 1979 paper on Prospect Theory.
economic system
A bottling company has determined the number of machine breakdowns per month and their respective probabilities as given below: Number of Breakdowns Probability
Need to run MGARCH (system) in SAS or other software. Have data.
what is the case of autocorrelation
Popularity vs. True Quality What determines the popularity of YouTube videos? Are the most viewed videos really the ones people like the most? What drives people choose certain
hypothetical data on consumption expenditure ($) and income ($) is given in the table x Y 80 55 100 65 85 70 110 80 120 79 115 84
can you please help me build intution about it
You are gambling. There is a white urn in front of you, which contains a total of 100 black and white balls. You are blindfolded, get to pick one ball randomly, and see which color
Problem: (a) Differentiate between linear and log-linear model. (b) Distinguish between type I and type II errors. (c) (i) A bulb manufacturer claims that its bulbs last
Paul's utility function is u(x, y) = xy 2 . Let unit prices be given by Px = 6 cents, Py = 2 cents, and assume that Paul's budget is the same as Peter's from the previous problem
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