Some estimations of the minimal magnitudes of forbidden zones in experimental data
Alexander Harin ()
MPRA Paper from University Library of Munich, Germany
Suppose a random variable takes on values in an interval. The minimal distance between the expectation of the variable and the nearest boundary of the interval is considered in the present article. A question whether this distance can be neglected with respect to the standard deviation is analyzed as the main item. This minimal distance can determine the minimal magnitudes of non-zero forbidden zones and biases caused by noise for results of experiments. These non-zero forbidden zones and biases cause fundamental problems, especially in interpretations of experiments in behavioral economics and decision sciences.
Keywords: utility theory; prospect theory; behavioral economics; decision sciences; probability; experiments; data; variance; expectation; noise (search for similar items in EconPapers)
JEL-codes: C1 C81 C9 D8 D81 (search for similar items in EconPapers)
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