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[JDM] Questions answered

Here is what you picked:

Question 1 (child custody example):   18
Question 2 (prospect theory):         26
Question 3 (Russell's sanity):        10
Question 4 (Women's toilets):         18
Question 5 (boys and girls):          21
Question 6 (performance/regression):  19

One person was not able to take the exam due to illness.  I will be
writing a separate exam it seems for that person.

Although I thought question 3 is one of the easiest, I suspect that it is
worded in such a way that it is not so clear about what is going on.

I am not surprised to see so many question 2 answers for an open book
exam.  I wonder whether fewer would have done that on a closed book exam.
Or did you all review prospect theory closely when revising for the exam?
A very quick looks suggests that the answers to that are very good on the

I also thought that question 4 is the hardest or at least most subtle.
While question 6 involves a combination of things (confirmatory bias and
regression to the mean), but is very similar to something discussed in
class (the Israeli fighter pilot study).

I now have 112 answers to mark in two days.  Looking backwards, I believe
that I should have had you do fewer questions!


Livia Markoczy                              | Cranfield School of Management
L.Markoczy@Cranfield.ac.uk                  | +44 (0)1234 751 122 (x3757)
http://www.cranfield.ac.uk/public/mn/mn795/ | FAX: +44 (0)1234 750070