On the strategic equivalence of multiple-choice test scoring rules
AbstractA disadvantage of multiple-choice tests is that students have incentives to guess. To discourage guessing, it is common to use scoring rules that either penalize wrong answers or reward omissions. These scoring rules are considered equivalent in psychometrics, although experimental evidence has not always been consistent with this claim. We model students' decisions and show, first, that equivalence holds only under risk neutrality and, second, that the two rules can be modified so that they become equivalent even under risk aversion. This paper presents the results of a field experiment in which we analyze the decisions of subjects taking multiple-choice exams. The evidence suggests that differences between scoring rules are due to risk aversion as theory predicts. We also find that the number of omitted items depends on the scoring rule, knowledge, gender and other covariates.
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Bibliographic InfoPaper provided by University of the Basque Country - Department of Foundations of Economic Analysis II in its series DFAEII Working Papers with number 2005-20.
Date of creation: Dec 2005
Date of revision:
Postal: Dpto. de Fundamentos del Análisis Económico II, = Facultad de CC. Económicas y Empresariales, Universidad del País Vasco, Avda. Lehendakari Aguirre 83, 48015 Bilbao, Spain
Find related papers by JEL classification:
- D80 - Microeconomics - - Information, Knowledge, and Uncertainty - - - General
- A20 - General Economics and Teaching - - Economic Education and Teaching of Economics - - - General
- C93 - Mathematical and Quantitative Methods - - Design of Experiments - - - Field Experiments
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- MichaÅ‚ Krawczyk, 2012.
"To answer or not to answer? A field test of loss aversion,"
Faculty of Economic Sciences, University of Warsaw, vol. 29.
- Michał Krawczyk, 2011. "To answer or not to answer? A field test of loss aversion," Working Papers 2011-13, Faculty of Economic Sciences, University of Warsaw.
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