Data Analysis Essay Example | Topics and Well Written Essays - 2000 words - 2

Data Analysis - Essay Example This indicates that the previous studies were unable to demonstrate differences other than experimental environment. Therefore, Eckel & Grossman (1998) introduced double-anonymous dictator game experiment to collect data to find the core difference of behavior of men and women while undertaking economic decisions (Eckel & Grossman, 1998). The authors of the study undertook testing of the hypothesis that exclaimed no difference between men and women and then the donations were taken under consideration. It was noted that men donated $0.82 on average while the amount was $1.60 among women. The statistical observation marked that p-value was less than 0.01. It is due to this reason that null hypothesis was rejected by further implying median test of the hypothesis (Eckel & Grossman, 1998). The research was able to conclude that women are more selfless in comparison to men. Furthermore, it was also marked that women donate or send out charity double the times of men. The focus of the research was to assess the difference between their economic decisions in order to formulate thesis for further research work. The authors have suggested that a number of studies could be undertaken to find out the factors that might impact the decision making process of both within the context of economic influence (Eckel & Grossman, 1998). Another research entitled ‘Fairness and Retaliation: The Economics of Reciprocity’ conducted by Fehr and Gachter (2000) states that people are more likely to react or behave differently depending upon their self-interest. Herein, reciprocity is defines as an action of a person to be nicer if he or she is approached by a friendly action of another person. This can also be applied in an otherwise situation i.e. if a person becomes unfair then the other person is also predicted to come up with a brutal