The Price of luck
| Data(s) |
01/12/2013
|
|---|---|
| Resumo |
We find that the vast majority of students taking an advanced undergraduate finance course show a preference for luck in a classroom experiment. In Phase I of the experiment part of the students, group A, were asked to guess a coin toss five times in a row. In Phase II the rest of the students, group B, were given 10 EUR to bet on some of the Group A students taking a second go at guessing a sequence of five coin tosses (Phase III). Group B students’ bets were by default allocated to the worse performing student in Phase I. Switching to better performing Group A students was costly. A total of 23 out of 28 students were willing to pay for switching and thus showed a preference for luck. |
| Formato |
26 p. |
| Identificador | |
| Idioma(s) |
eng |
| Publicador |
Universitat Autònoma de Barcelona. Departament d'Economia de l'Empresa |
| Relação |
Document de treball (Universitat Autònoma de Barcelona. Departament d'Economia de l'Empresa);13/4 |
| Direitos |
L'accés als continguts d'aquest document queda condicionat a l'acceptació de les condicions d'ús establertes per la següent llicència Creative Commons: http://creativecommons.org/licenses/by-nc-nd/3.0/es/ info:eu-repo/semantics/openAccess |
| Fonte |
RECERCAT (Dipòsit de la Recerca de Catalunya) |
| Palavras-Chave | #Heurística #51 - Matemàtiques |
| Tipo |
info:eu-repo/semantics/workingPaper |
