ECON 4340 Loyola Marymount University Economic Questionnaire

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Are Economists Different, and If So, Why?
John R. Carter; Michael D. Irons
The Journal of Economic Perspectives, Vol. 5, No. 2. (Spring, 1991), pp. 171-177.
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Fri Jan 12 15:36:05 2007
Dr. Jennifer Pate
Loyola Marymount University
Spring 2021
Economics 4340: Experimental Economics
Summary Instructions
Question 1: Are we (economists) different, and if so, how (and why?)
Answer the following questions as best as possible given your understanding of the
assigned reading(s). You are allowed to work with other students but please use your
own words in your summary responses.
1. What is the central research question of the study?
2. What is the primary hypothesis of the authors? Briefly compare the difference
between the selection hypothesis and the learning hypothesis.
3. What game do the authors use to test their hypotheses? Briefly explain how the
game works.
4. Describe the subject pool utilized in this study. Identify one or more potential issues
with the subject pool.
5. True or False, explain: The experimental evidence showed support for the selfselection hypothesis but not the learning hypothesis.
6. Was logical reasoning a factor in predicting behavior? How was logical reasoning
tested in this experiment?
7. Complete the following sentences and briefly explain your thought process and/or
motivation.
(a) If I were a subject placed in the position of “proposer” in this experiment, I would
have proposed to keep $____ (out of $10.00) for myself. Why?
(b) If I were a subject placed in the position of “responder” in this experiment, I
would have accepted a minimum of $____ (out of $10.00), and otherwise reject the
offer. Why?

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Explanation & Answer:
7 Questions

Tags:
noneconomists

learning hypothesis

economists behavior

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