How do you know we aren't lying? I have no incentive to either lie or tell the truth and there is no reason to believe that the default reply in case of a tie is to tell the truth.
Vote good if your parents make over $250K
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How do you know we aren't lying? I have no incentive to either lie or tell the truth and there is no reason to believe that the default reply in case of a tie is to tell the truth.
We've made a behavioral assumption that respondents tell the truth in the case of indifference. We could also include some payoff for truth-telling in the utility function to simply assume it away. Since people are visiting this site and entering the survey voluntarily, this is not an unreasonable assumption.
Also, if you rather assume that respondents lie in the case of indifference, then we can just flip the results around.
Any other pseudo-intellectual questions?
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Holy shnikies! Is this the way economists really evaluate peoples behavior? By making grand simplifying assumptions about key behavioral considerations so they can just assume them away?
How do you know we aren't lying? I have no incentive to either lie or tell the truth and there is no reason to believe that the default reply in case of a tie is to tell the truth.
We've made a behavioral assumption that respondents tell the truth in the case of indifference. We could also include some payoff for truth-telling in the utility function to simply assume it away. Since people are visiting this site and entering the survey voluntarily, this is not an unreasonable assumption.
Also, if you rather assume that respondents lie in the case of indifference, then we can just flip the results around.
Any other pseudo-intellectual questions? -
Which planet did some of you fall from? 250,000 per year is not rich???
Here is reliable data from census bureau, check for yourself if you do not believe. Median income per capita in the United States was 26,487 in 2010.
http://www.census.gov/hhes/www/income/data/historical/people/
income per capita
all races
in 2010
dollars Year
26,487 2010
26,968 2009
27,305 2008
28,186 2007
28,497 2006
27,961 2005
27,538 2004
27,593 2003
27,625 2002
28,142 2001
28,293 2000 -
I think both of my parents each make over 250k (undergrad here)
I don't understand the hate against rich/successful people. While the average american was going to some sh*t school and spending 4-5 years partying and drinking constantly, the people who are now successful were working hard and spending long hours studying