How do people monitor the correctness of their answers? A self-consistency model is proposed for the process underlying confidence judgments and their accuracy. In answering a 2-alternative question, participants are assumed to retrieve a sample of representations of the question and base their confidence on the consistency with which the chosen…

This paper introduces a utilitarian confidence testing statistic called Risk Inclination Model (RIM) which indexes all possible confidence wagering combinations within the confines of a defined symmetrically point-balanced test environment. This paper presents the theoretical underpinnings, a formal derivation, a hypothetical application, and…

It is believed that if primary grade children are exposed to the fundamentals of economics, they will be better able to comprehend and apply the principles in later years. This paper describes an inservice economics education training institute for elementary school teachers that integrates the following strategies: (1) an experienced-based…