Behavioral

Allais Paradox

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.

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Micro

Framing

This question recreates one of the classic behavioral findings about framing. When confronted with a choice that has the same expected probability, people are often swayed by the way the choices are presented. Would you rather have a 10% chance of mortality or would you rather have a 90% chance of survival are the same but, not surprisingly people predictably choose a 90% chance of survival.

Course Used: Principles of Micro
Quiz Nature: Discussion Starter
Question Length: 1
Estimated Time to Play: Less than 2 minutes.

To request this Kahoot, please Contact Us.