Before reading the studies, we did this exercise in my Experimental Econ class a couple years ago. However, beforehand the teacher didn't let any of us know P=0 even though it should have been obvious.
We did the test 4 times in a row.
There were 12 students in my class (an upper division econ class at a private school)
Test 1: I guessed 20 (answer was 22, I was closest)
Test 2: I guessed 12 (got it exactly)
Test 3: I guessed 7 (split the reward with one other student)
Test 4: I guessed 3 and the answer was 2
If more tests were done I could only assume the whole class would have eventually... (read more)
Before reading the studies, we did this exercise in my Experimental Econ class a couple years ago. However, beforehand the teacher didn't let any of us know P=0 even though it should have been obvious.
We did the test 4 times in a row.
There were 12 students in my class (an upper division econ class at a private school)
Test 1: I guessed 20 (answer was 22, I was closest)
Test 2: I guessed 12 (got it exactly)
Test 3: I guessed 7 (split the reward with one other student)
Test 4: I guessed 3 and the answer was 2
If more tests were done I could only assume the whole class would have eventually... (read more)