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Use the guidelines to evaluate the study. Discuss flaws that you see in the study.
-A researcher from an environmental group wishes to gauge political sentiment regarding
a proposed environmental law. He obtains a list of 1000 email addresses from an internet
provider, uses a random number table to select a random sample of 100 of these addresses,
emails the people in the sample asking them "How do you feel about the proposed
environmental law which will improve the quality of our air?" He requests that people
respond to his question by email.
After the study he announces that 72% of Americans are in favor of the new environmental
law.
Endowment Effect
A psychological and behavioral economics phenomenon where individuals value an owned object higher than a similar object they do not own.
Item Value
The worth or usefulness of a specific good or service, often determined by factors like utility, demand, and rarity.
Ownership
The legal right or status of having control over something, typically property or goods.
Traditional Economic Theory
A framework that explains economic decisions and behaviors based on the assumption that agents are rational and seek to maximize utility or profit.
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