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Project Abstract

This document outlines a study to prove that losses are more painful than gains for a similar change from a reference point using different exam marking schemes. The methodology involves: 1. Reviewing the marking schemes of major Indian exams to determine the most effective scheme that discourages guessing without compromising fairness. 2. Conducting a survey experiment with 3 treatments and 1 control group to validate that losses matter more than gains and evaluate marking schemes that discourage guessing while perceiving fairness. The study aims to understand risk-taking behavior in competitive exams.

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ANSHUL SINGH PARIHAR
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38 views2 pages

Project Abstract

This document outlines a study to prove that losses are more painful than gains for a similar change from a reference point using different exam marking schemes. The methodology involves: 1. Reviewing the marking schemes of major Indian exams to determine the most effective scheme that discourages guessing without compromising fairness. 2. Conducting a survey experiment with 3 treatments and 1 control group to validate that losses matter more than gains and evaluate marking schemes that discourage guessing while perceiving fairness. The study aims to understand risk-taking behavior in competitive exams.

Uploaded by

ANSHUL SINGH PARIHAR
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as DOCX, PDF, TXT or read online on Scribd
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Abstract

Topic – To prove losses are more painful than gain for a similar change from the reference point
through marking scheme

Methodology

1. Literature Review – Review of the current marking schemes of widely known examinations
held within (and outside) India in order to understand which is the most effective marking
scheme that ensures students do not guess without affecting the perception of fairness of
the scheme among the responders.
We plan to analyse marking schemes of the following national level examinations conducted
in India:

Examination Marking Scheme


Correct Answer Un-Attempted Wrong Answer
Indian Statistical Institute, Kolkata Entrance 4 1 0
IIT-Joint Entrance Examination Mains 4 0 -1
UPSC Prelims 2 / 2.5 0 -0.67/ -0.83
AIIMS Entrance Test 1 0 -0.33
NEET Entrance 4 0 -1

2. Primary Research – Conducing a research on the researchers belonging to similar


demographics through survey considering 3 treatments and 1 control. The aim is to validate
that losses matter more than gains and evaluate marking schemes that best ensures that the
responders do not guess while attempting the questions. Further, we will analyse the
perceived fairness of a marking scheme which disallow responders to guess while attempting
the questions.
We would be trying to keep the difficulty of the questions to be of moderate level. This
would be done to ensure participants take time to think and analyse returns of them
attempting the questions. Apart from this, the participants would be a perceived mix of
humans and econs (B-school students). This would also help us understand their behaviour
in the gain and loss domains. This whole experiment would give us an overview on risk-
taking behaviour of applicants in appearing for competitive examinations.

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