About the minimal magnitudes of measurement’s forbidden zones. Version 1

Alexander Harin

MPRA Paper from University Library of Munich, Germany

Abstract: Suppose a random variable takes on values in an interval. The minimal distance from the expectation of the variable to the nearest boundary of the interval is considered here. One of the aims of the present article is also an analysis of the question when this minimal distance can be neglected with respect to the standard deviation. This minimal distance can determine the minimal magnitudes of forbidden zones caused by noise for results of measurements near the boundaries of the intervals. The most observed influence and problems of these forbidden zones are suffered in behavioral economics and decision sciences.

Keywords: utility theory; prospect theory; behavioral economics; decision sciences; probability; dispersion; variance; expectation; noise (search for similar items in EconPapers)
JEL-codes: C02 C1 C9 C91 C93 D8 D81 (search for similar items in EconPapers)
Date: 2017-04-25
New Economics Papers: this item is included in nep-upt
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