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Testing the rationa...
Testing the rationality assumption using a design difference in the TV Game-show Jeopardy
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- Sjögren Lindquist, Gabriella, 1974- (author)
- Stockholms universitet,Institutet för social forskning (SOFI)
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- Säve-Söderbergh, Jenny, 1968- (author)
- Stockholms universitet,Institutet för social forskning (SOFI)
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(creator_code:org_t)
- 2006
- English 29 s.
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Series: Swedish Institute for Social Research, 0283-8222 ; 9/2006
- Related links:
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https://su.diva-port... (primary) (Raw object)
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Abstract
Subject headings
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- Abstract This paper empirically investigates the rationality assumption commonly applied in economic modeling by exploiting a design difference in the game-show Jeopardy between the US and Sweden. In particular we address the assumption of individuals’ capabilities to process complex mathematical problems to find optimal strategies. The vital difference is that US contestants are given explicit information before they act, while Swedish contestants individually need to calculate the same information. Given a rationality assumption of individuals computing optimally, there should be no difference in the strategies used. However, in contrast to the rational and focal bidding behaviors found in the US, the Swedish players display no optimal behavior. Hence, when facing too complex decisions, individuals abandon optimal strategies.
Subject headings
- SAMHÄLLSVETENSKAP -- Ekonomi och näringsliv -- Nationalekonomi (hsv//swe)
- SOCIAL SCIENCES -- Economics and Business -- Economics (hsv//eng)
Publication and Content Type
- vet (subject category)
- rap (subject category)
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