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Abstract

Suppose a random variable takes on values in an interval. The minimal distance from the expectation of the variable to the nearest boundary of the interval is considered here. One of the aims of the present article is also an analysis of the question when this minimal distance can be neglected with respect to the standard deviation. This minimal distance can determine the minimal magnitudes of forbidden zones caused by noise for results of measurements near the boundaries of the intervals. The most observed influence and problems of these forbidden zones are suffered in behavioral economics and decision sciences.



Item Type: MPRA Paper -

Original Title: About the minimal magnitudes of measurement’s forbidden zones. Version 1-

Language: English-

Keywords: utility theory; prospect theory; behavioral economics; decision sciences; probability; dispersion; variance; expectation; noise;-

Subjects: C - Mathematical and Quantitative Methods > C0 - General > C02 - Mathematical MethodsC - Mathematical and Quantitative Methods > C1 - Econometric and Statistical Methods and Methodology: GeneralC - Mathematical and Quantitative Methods > C9 - Design of ExperimentsC - Mathematical and Quantitative Methods > C9 - Design of Experiments > C91 - Laboratory, Individual BehaviorC - Mathematical and Quantitative Methods > C9 - Design of Experiments > C93 - Field ExperimentsD - Microeconomics > D8 - Information, Knowledge, and UncertaintyD - Microeconomics > D8 - Information, Knowledge, and Uncertainty > D81 - Criteria for Decision-Making under Risk and Uncertainty-





Author: Harin, Alexander

Source: https://mpra.ub.uni-muenchen.de/78796/







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