BOARD CERTIFICATION EXAM STUDY GUIDES Lower Extremity Trauma
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Posted on January 5, 2025 by Dr. David Edward Marcinko MBA MEd CMP™
By Staff Reporters
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Morality Priming refers to subtle reminders of ethical principles that can make us behave more responsibly. It’s like an internal nudge that brings our conscience to the surface.
And, according to colleague Dan Ariely PhD, by focusing on moral standards, people are often encouraged to act more honestly, even in small, everyday decisions.
Posted on January 5, 2025 by Dr. David Edward Marcinko MBA MEd CMP™
By Reporters
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For Question 1, people preferred Prospect A to prospect A , which means: (0.11) u( 1,000,000) > (0.10) u( 5,000,000) For Question 2, people preferred Prospect B to prospect B, which means: (0.10) u( 5,000,000) > (0.11) u( 1,000,000) Allais Paradox. shows that, individuals’ decisions can be inconsistent with Expected Utility Theory.
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Allais Paradox is a change in a possible outcome that is shared by different alternatives affects people’s choices among those alternatives, in contradiction with expected utility theory.
The Allais paradox is a choice problem designed by Maurice Allais 1953 to show an inconsistency of actual observed choices with the predictions of expected utility theory theory.
According to colleague Dan Ariely PhD, the Allais paradox demonstrates that individuals rarely make rational decisions consistently when required to do so immediately. The independence axiom of expected utility theory, which requires that the preferences of an individual should not change when altering two lotteries by equal proportions, was proven to be violated by the paradox.