Certainty effect in the academic programmes studied
| Question | Option | Expected value | PT/EUT | Bachelor in accounting | Bachelor in management | Bachelor in economics | Graduate studies: Ph.D., Master's degree and specialization | Total | Pearson χ2 | p-value |
|---|---|---|---|---|---|---|---|---|---|---|
| 1 | A) 33%: $2,500; 66%: $2,400; 1%: $0 | $2,409 | EUT | 37% | 37% | 41% | 46% | 39% | 2.8726 | 0.412 |
| B) 100%: $2,400 | $2,400 | PT | 63% | 63% | 59% | 54% | 61% | |||
| 2 | A) 33%: $2,500; 67%: $0 | $825 | EUT | 50% | 53% | 56% | 65% | 54% | 7.1371 | 0.068 |
| B) 34%: $2,400; 66%: $0 | $816 | PT | 50% | 47% | 44% | 37% | 46% | |||
| 3 | A) 80%: $4,000; 20%: $0 | $3,200 | EUT | 32% | 29% | 31% | 39% | 32% | 2.7531 | 0.431 |
| B) 100%: $3,000 | $3,000 | PT | 68% | 71% | 69% | 61% | 68% | |||
| 4 | A) 20%: $4,000; 80%: $0 | $800 | EUT | 47% | 45% | 51% | 56% | 48% | 3.3205 | 0.345 |
| B) 25%: $3,000; 75%: $0 | $750 | PT | 53% | 55% | 49% | 44% | 52% | |||
| 5 | A) 50%: England, France and Italy; 50%: Not winning the trip | Non-monetary effect: uncertainty | EUT | 28% | 33% | 17% | 21% | 27% | 6.5957 | 0.086 |
| B) 100%: one week in England | Monetary effect: certainty | PT | 72% | 67% | 83% | 79% | 73% | |||
| 6 | A) 5%: a three-week trip to England, France and Italy; 95%: Not winning the trip | Non-monetary effect: uncertainty | EUT | 52% | 56% | 59% | 52% | 53% | 1.7346 | 0.629 |
| B) 10%: a one-week trip to England; 90%: not to win the trip | Monetary effect: certainty | PT | 48% | 44% | 41% | 48% | 47% | |||
| 7 | A) 45%: $6,000; 55%: $0 | $2,700 | EUT | 28% | 29% | 20% | 23% | 27% | 2.2045 | 0.531 |
| B) 90%: $3,000; 10%: $0 | $2,700 | PT | 72% | 71% | 80% | 77% | 73% | |||
| 8 | A) 0.1%: $6,000; 99.9%: $0 | $60 | EUT | 69% | 77% | 75% | 70% | 71% | 3.5056 | 0.32 |
| B) 0.2%; $3,000; 99.8%: $0 | $60 | PT | 31% | 23% | 25% | 30% | 29% |
| Question | Option | Expected value | PT/EUT | Bachelor in accounting | Bachelor in management | Bachelor in economics | Graduate studies: Ph.D., Master's degree and specialization | Total | Pearson | |
|---|---|---|---|---|---|---|---|---|---|---|
| 1 | A) 33%: $2,500; 66%: $2,400; 1%: $0 | $2,409 | EUT | 37% | 37% | 41% | 46% | 39% | 2.8726 | 0.412 |
| B) 100%: $2,400 | $2,400 | PT | ||||||||
| 2 | A) 33%: $2,500; 67%: $0 | $825 | EUT | 7.1371 | 0.068 | |||||
| B) 34%: $2,400; 66%: $0 | $816 | PT | 47% | 44% | 37% | 46% | ||||
| 3 | A) 80%: $4,000; 20%: $0 | $3,200 | EUT | 32% | 29% | 31% | 39% | 32% | 2.7531 | 0.431 |
| B) 100%: $3,000 | $3,000 | PT | ||||||||
| 4 | A) 20%: $4,000; 80%: $0 | $800 | EUT | 47% | 45% | 51% | 56% | 48% | 3.3205 | 0.345 |
| B) 25%: $3,000; 75%: $0 | $750 | PT | ||||||||
| 5 | A) 50%: England, France and Italy; 50%: Not winning the trip | Non-monetary effect: uncertainty | EUT | 28% | 33% | 17% | 21% | 27% | 6.5957 | 0.086 |
| B) 100%: one week in England | Monetary effect: certainty | PT | ||||||||
| 6 | A) 5%: a three-week trip to England, France and Italy; 95%: Not winning the trip | Non-monetary effect: uncertainty | EUT | 1.7346 | 0.629 | |||||
| B) 10%: a one-week trip to England; 90%: not to win the trip | Monetary effect: certainty | PT | 48% | 44% | 41% | 48% | 47% | |||
| 7 | A) 45%: $6,000; 55%: $0 | $2,700 | EUT | 28% | 29% | 20% | 23% | 27% | 2.2045 | 0.531 |
| B) 90%: $3,000; 10%: $0 | $2,700 | PT | ||||||||
| 8 | A) 0.1%: $6,000; 99.9%: $0 | $60 | EUT | 3.5056 | 0.32 | |||||
| B) 0.2%; $3,000; 99.8%: $0 | $60 | PT | 31% | 23% | 25% | 30% | 29% |
Source(s): Own elaboration with estimations computed in Stata 14®
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