Browsing by Keywords "Guessing penalty"
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Hit or miss? Test taking behavior in multiple choice exams (Groupe des Ecoles Nationales d'Economie et Statistique (GENES), 2022-09)This paper is the first to structurally model how a test taker answers questions in a multiple choice exam. We allow for the possibility of a penalty for a wrong answer which makes risk averse examinees more likely to skip ...