Assignment 3

Write a one page summary of the Battalio and Kagel article.

You may write no more than one page (1.5 spacing, 12 point type).

There are numerous conjectures that people have different orientations with respect to risk.

1. I have some data (provided by this year's crop of Political Science Graduate students). These data are from an experiment designed to test aspects of risk.

2. Download the data from here (it is an Excel Spreadsheet). The rows are subjects. The columns are decisions. So, Ad1 is decision 1 in the experiment, Ad2 is decision 2 and so forth. A value of 1 means the subject picked Option A (on the left) and a value of 2 means the subject picked Option B (on the right).

3. Read the instructions for the experiment (as well as look at the parameters used in the experiment). You can link to this URL from here. Keep in mind that the ONLY data of interest are the choices that people make between the lotteries -- not what ended up happening to them (that is all determined by nature). You will have to use INTERNET EXPLORER in order to look at the experiment.

4. Formulate a hypothesis about these data and interpret the results.

5. Write up everything (including a table or chart) in no more than one page.