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The Ku Klux Klan, Real Estate Agents, and Predictive Validity

The Ku Klux Klan, Real Estate Agents, and Predictive Validity. Ku Klux Klan & Real Estate Agents. What do they have in common? Stetson Kennedy and the Internet information asymmetry & fear: - e.g., car mechanics, real estate agents, term life insurance agents.

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The Ku Klux Klan, Real Estate Agents, and Predictive Validity

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  1. The Ku Klux Klan, Real Estate Agents, and Predictive Validity

  2. Ku Klux Klan & Real Estate Agents • What do they have in common? • Stetson Kennedy and the Internet • information asymmetry & fear: - e.g., car mechanics, real estate agents, term life insurance agents

  3. Information Asymmetries & On-Line Dating 2 layers of information/data: (a) photo, vital stats, income range, ed. level, likes/dislikes, dating aims, etc. (b) level of response to an ad Question: How honest are people and what kind of information is considered the most (and least) desirable?

  4. Information Asymmetries & On-Line Dating Questions: (1) How honest are people? and (2) What kind of information is considered the most (and least) desirable? Honesty by Men and Women: - income - height and weight - looks (including hair color) - marital status Most and Least Desirable Information for Men and Women: - including (or not including) a photo - long-term relationship vs. occasional lover - looks and income (how much income?) - height and weight - hair (color and quantity) - race

  5. Deciding, Choosing, and Predictive Validity • In making decisions, we try to align: “experienced,” “expected,” and “remembered” utility estimations “peak-end” rule (e.g., colonoscopies) • anchoring & framing (e.g., “cash discounts” for gas purchases) ------------------------------------------------------------ Malcolm Gladwell, “Troublemakers: Annals of Public Policy”

  6. Profiling & Predictive Validity Generalizations about young men and car insurance, over-weight men and cholesterol, young Arabs and terrorist attacks, pit bulls and dangerous dog attacks… They can lead to “category problems” Why do pit-bull bans involve a “category problem”?

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