Based on the data analyzed in Chapter 6, including Ch 6 Exercise #2:

Explain (in your own words) the findings of Chapter 5 Experiments 4, 5, and 6. What are the effects of different response procedures on the mean and median value of the St. Petersburg gamble? What is the role of the t-test described in Chapter 6 in reaching these conclusions? What is the relevance of the St. Petersburg Paradox to Expected Value Theory of Decision Making? What was Bernoulli's "solution" to the paradox?

Put your answer in the box below, and click the button below when finished.

Check your work; when you are sure it is correct, click the button below.

Put here the last four digits of your student ID:

Return to Psych 305 page