Should I guess?

Ellen Sewell

Applied Economics Letters, 2017, vol. 24, issue 17, 1214-1217

Abstract: Formula scoring, or the use of a correction (or penalty) for guessing, has been commonly practiced on standardized tests for almost 100 years. The correction deducts a portion of the question’s point value for an incorrect response, with no points awarded or deducted for an omitted response. The optimal response strategy is dependent on the student’s risk attitude and is thus difficult to identify and convey, as discussed. This study uses survey data to examine the advice that has been provided (often at some cost) to students facing a test with a correction. The impact of some of this advice as well as explanations for its persistence is discussed. In so doing, the study does provide support for the apparent ongoing abandonment of this scoring practice.

Date: 2017
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DOI: 10.1080/13504851.2016.1267838

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