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About the minimal magnitudes of measurement’s forbidden zones. Version 1

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  • Harin, Alexander

Abstract

Suppose a random variable takes on values in an interval. The minimal distance from the expectation of the variable to the nearest boundary of the interval is considered here. One of the aims of the present article is also an analysis of the question when this minimal distance can be neglected with respect to the standard deviation. This minimal distance can determine the minimal magnitudes of forbidden zones caused by noise for results of measurements near the boundaries of the intervals. The most observed influence and problems of these forbidden zones are suffered in behavioral economics and decision sciences.

Suggested Citation

  • Harin, Alexander, 2017. "About the minimal magnitudes of measurement’s forbidden zones. Version 1," MPRA Paper 78796, University Library of Munich, Germany.
  • Handle: RePEc:pra:mprapa:78796
    as

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    File URL: https://mpra.ub.uni-muenchen.de/78796/1/MPRA_paper_78796.pdf
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    References listed on IDEAS

    as
    1. Alexander Harin, 2012. "Data Dispersion in Economics (I) - Possibility of Restrictions," Review of Economics & Finance, Better Advances Press, Canada, vol. 2, pages 59-70, August.
    2. Harin, Alexander, 2017. "Can forbidden zones for the expectation explain noise influence in behavioral economics and decision sciences?," MPRA Paper 76240, University Library of Munich, Germany.
    3. Alexander Harin, 2012. "Data Dispersion in Economics(II) - Inevitability and Consequences of Restrictions," Review of Economics & Finance, Better Advances Press, Canada, vol. 2, pages 24-36, November.
    4. Daniel Kahneman & Richard H. Thaler, 2006. "Anomalies: Utility Maximization and Experienced Utility," Journal of Economic Perspectives, American Economic Association, vol. 20(1), pages 221-234, Winter.
    Full references (including those not matched with items on IDEAS)

    More about this item

    Keywords

    utility theory; prospect theory; behavioral economics; decision sciences; probability; dispersion; variance; expectation; noise;

    JEL classification:

    • C02 - Mathematical and Quantitative Methods - - General - - - Mathematical Economics
    • C1 - Mathematical and Quantitative Methods - - Econometric and Statistical Methods and Methodology: General
    • C9 - Mathematical and Quantitative Methods - - Design of Experiments
    • C91 - Mathematical and Quantitative Methods - - Design of Experiments - - - Laboratory, Individual Behavior
    • C93 - Mathematical and Quantitative Methods - - Design of Experiments - - - Field Experiments
    • D8 - Microeconomics - - Information, Knowledge, and Uncertainty
    • D81 - Microeconomics - - Information, Knowledge, and Uncertainty - - - Criteria for Decision-Making under Risk and Uncertainty

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