What I am doing over here, an Interactive Post

For those of you wondering what I am doing over here, I am teaching a course on Behavioral Economics.

It is really a "soft ball" of an economics course.

That is to say, it is relatively fun and easy. It is not econometrics, or microeconomic theory.

Here is a "pre test" that I give students -- try it! I take the results from the class and use them ask examples throughout the term.

I'll give you my results in the next day or so, but here's the exam if you're interested.

Introductory Quiz (not for a grade. The answers you give as a class will be used in examples throughout the term)

Spring 2013

Instructions: Please answer the following questions to the best of your ability. 

(My first question is just an introductory one).

2.      Please write down the last four digits of your mobile number:

3.      Is the number of doctors in the Dublin Metropolitan area higher or lower than this number?

4.      What is your best guess as to the number of doctors in Dublin?

5.      A bat and a ball together cost $1.10.  The bat costs $1.00 more than the ball. How much does the ball cost?

6.       Do you expect to perform above or below average in this course?

7.      Imagine these are four playing cards laid out in front of you, each of which has a number on one side and a colored patch on the other side. The visible faces of the cards show E, 4, K and 7. Which card(s) should you turn over in order to test the truth of the proposition that if a card shows an E that it has a 4 on it? 
(This picture didn't copy. It is four cards. One with an "E" one with a "4" one with a "K" and one with a "7").

8.      Suppose an unbiased coin is flipped three times, and each time the coin lands on heads.  If you had to bet $1,000 on the next toss, what side would you choose?  Heads, tails or no preference?

9.      If it takes 5 machines 5 minutes to make 5 widgets, how long would it take 100 machines to make 100 widgets?

10.  Imagine that Ireland is preparing for the outbreak of an unusual disease, which is expected to kill 600 people.  Two alternative programs to combat the disease have been proposed.  Assume the exact scientific estimates of the consequences of the programs are as follows:

If program A is adopted 200 people will be saved.

If program B is adopted there is a 1/3/ probability that 600 people will be saved, and a 2/3 probability that no one will be saved.

Which program do you choose?

11.  You are offered the following bet.  On the toss of a fair coin, if you lose you must pay $100, what is the minimum amount that you need to win in order to make this bet attractive to you?

12.  In a lake, there is a patch of lily pads. Everyday, the patch doubles in size.  If it takes 48 days for the patch to cover the entire lake, how long would it take for the patch to cover half the lake?

13.  The same disease from question 9 is back.  Only this time the two programs now have the following payoffs:

If program C is adopted 400 people will die.

If Program D is adopted there is a 1/3 probability that nobody will die, and a 2/3 probability that 600 will die.

Which program do you support?

14.  You are on a game show.  You are offered a choice of one of the three doors.  Behind two of the doors there is a goat.  Behind one of the doors there is a car.  Upon your announcing which door you choose, the host of the show opens one of the two doors not selected by you, and reveals a goat.  After he has done this, he offers you the opportunity switch your choice.  What should you do, stick or switch? 

15.  You are now going to play a game against others sitting in this room.  The game is simply this.  Pick a number between 0 and 100.  The winner of the game will be the person who guesses the number closest to two thirds of the average number picked.  Your guess is: