Participants in an experiment are asked to flip a fair coin and report the outcome. If they report H, they receive $10. If they report T, they receive $O. The experimenter observes that 70% of 1000 reports are H. How does this experiment provide evidence against or in favour of lying aversion? Please answer in at most three sentences.

MATLAB: An Introduction with Applications
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Chapter1: Starting With Matlab
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Participants in an experiment are asked to flip
a fair coin and report the outcome. If they
report H, they receive $10. If they report T,
they receive $O. The experimenter observes
that 70% of 1000 reports are H. How does
this experiment provide evidence against or in
favour of lying aversion? Please answer in at
most three sentences.
Transcribed Image Text:Participants in an experiment are asked to flip a fair coin and report the outcome. If they report H, they receive $10. If they report T, they receive $O. The experimenter observes that 70% of 1000 reports are H. How does this experiment provide evidence against or in favour of lying aversion? Please answer in at most three sentences.
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