Rationality and the 'price is right.'

Article Abstract:

Paper the incoporates the television game show, 'The Price is Right' as a laboratory for observing decision-making behavior due the high rewards that provide substantial opportunity for contestants to formulate their strategies. Evidence shows persistent decision-making errors despite penalties related to sub-optimal behavior in addition to ample opportunity for contestants to formulate strategies before-hand. Learning is evident in the data suggesting that optimal decision-making is best learned in the actual environment.

Decision-making, Decision making, Tests, problems and exercises, The Price Is Right (Television program)

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Rationality and the market for human blood

Article Abstract:

Human blood as a consumer good follows a different rationality of economic behavior. A vital issue in the blood market is the potential danger of passing on diseases such as hepatitis and AIDS. The argument for which the model is formulated is that voluntarily donated blood is less likely to be impregnated with diseases than commercially obtained quantities. The rationale behind this is that voluntarism provides no monetary incentive for sellers to lie to blood banks about their health condition.

Health and allied services, not elsewhere classified, Research, Safety and security measures, Prevention, Donation of organs, tissues, etc., Tissue donation, Blood-borne diseases, Bloodborne diseases, Blood donors, Blood donation, Blood banks

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On risk, rationality and the predictive ability of European short-term adjusted yield spreads

Article Abstract:

The adjusted yield spreads work better than expectation hypothesis under risk neutrality in predicting the behavior of the interest rates. It takes account of market irrationality by computing ex-ante out-of-sample variable time premia through the vector error correction model (VECM). The findings of the study is impressive as it holds across many European markets and sample periods.

Interest Rates, Models, Management, Europe, Monetary policy, Rational expectations (Economics)

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