The Kahoot replicates the Allais Paradox. Maurice Allais received the Nobel Prize in Economics for demonstrating that income was a key determinant of risk preference. Before Allais economists assumed that people were either risk averse, risk neutral of risk takers and that their preferences did not change. It is our experience that 20-30 percent of your students will choose gambles 1 and B (just like Allais’ subject did over 30 years ago).
Course Used: Principles of Micro Quiz Nature: Discussion Starter Question Length: 1 Estimated Time to Play: 5 minutes.
This poll question is a great way to begin a discussion on the deadweight loss of gift giving (Waldfogel, 1993). After surveying your class with this Kahoot play a short video from Adam Ruins Everything:
Ask your students if they think gift giving really creates deadweight loss or did Waldfogel’s analysis miss any crucial valuations.
Course Used: Principles of Micro Quiz Nature: Discussion starter Question Length: 1 Estimated Time to Play: Anywhere from 2 to 10 minutes depending on how much follow-up is needed.