How Much Is that Exam Grade Really Worth? An Estimation of Student Risk Aversion to Their Unknown Final College Course Grades

Autor/inn/en	Nalley, Lanier; McKenzie, Andrew
Titel	How Much Is that Exam Grade Really Worth? An Estimation of Student Risk Aversion to Their Unknown Final College Course Grades
Quelle	In: Journal of Economic Education, 42 (2011) 4, S.338-353 (16 Seiten)Infoseite zur Zeitschrift PDF als Volltext Verfügbarkeit
Sprache	englisch
Dokumenttyp	gedruckt; online; Zeitschriftenaufsatz
ISSN	0022-0485
DOI	10.1080/00220485.2011.606085
Schlagwörter	Grades (Scholastic); Tests; Undergraduate Students; Risk; Student Behavior; Economics Education; Arkansas + Suchen Sie Ihr Suchwort? Notenspiegel; Examination; Prüfung; Examen; Risiko; Student behaviour; Schülerverhalten; Wirtschaftskunde
Abstract	This study created an experimental design with which students can empirically assess their risk behavior with respect to exam grades within an expected utility framework. Specifically, the authors analyzed students' risk preferences associated with taking exams and earning a "risky" unknown grade versus not taking exams and instead obtaining a "sure" grade. Students have grade-choice decisions in nonhypothetical situations that impact their actual exam grades. Estimates indicate that the more risk-averse a student is, the more willing he or she is to accept a lower certain grade and not take an exam than to run the risk of actually taking it. We believe that this experimental setup and its binding results make it an easy but effective way of teaching the obtuse concept of risk aversion. (Contains 2 figures, 5 tables, and 17 notes.) (As Provided).
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Erfasst von	ERIC (Education Resources Information Center), Washington, DC
Update	2017/4/10