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Formula Scoring Reconsidered

Author

Listed:
  • Ellen Sewell

    (Department of Economics, The University of North Carolina at Charlotte)

Abstract

The primary purpose of this study is to align the expectations of economists with much of the empirical evidence and explain why risk-averse students with partial knowledge might have exhibited behavior consistent with risk neutrality when faced with a penalty for guessing on a multiple choice exam. A target or threshold score was introduced and it was found to induce subjects in an experimental setting to adopt less risk-averse behavior. The impact of past coaching in preparation for tests with a penalty for guessing was also investigated but found to have little effect.

Suggested Citation

  • Ellen Sewell, 2017. "Formula Scoring Reconsidered," Eastern Economic Journal, Palgrave Macmillan;Eastern Economic Association, vol. 43(4), pages 715-726, September.
    • Handle: RePEc:pal:easeco:v:43:y:2017:i:4:d:10.1057_eej.2016.1
    DOI: 10.1057/eej.2016.1
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    References listed on IDEAS

    as
    1. Feinberg, Robert M, 1977. "Risk Aversion, Risk, and the Duration of Unemployment," The Review of Economics and Statistics, MIT Press, vol. 59(3), pages 264-271, August.
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