In a Single Experiment, Amount of Reward and Type of Reward

question 11

Multiple Choice

In a single experiment, amount of reward and type of reward are varied. Subjects are randomly assigned to one of three "amount of reward" groups. Each subject is tested once with one type of reward and once again with a second type of reward. What type of design is this?

• A)2x2 single factor, multilevel
• B)2x3 mixed factorial
• C)2x3 independent groups factorial
• D)3x3 repeated-measures factorial

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Definitions:

Opportunity Costs

The cost of choosing one option instead of the next best alternative, representing the benefits missed out on.

Certainty Equivalent Factors

The adjusted value of risky outcomes to reflect the investor's risk aversion, often used in capital budgeting.

Life Span

The duration or length of life of an organism, object, or system, often used in the context of product life cycles or human longevity.

Portfolio

In finance, a collection of investments.