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[unable to retrieve full-text content]One of the first observed and best known errors people make when told probabilities is the Allais paradox. People put too much weight on rare extreme outcomes. This means that choices people make different choices when asked to choose between two lotteries with the same probabilities of the same outcomes depending on how they are […] The post The Allais Paradox appeared first on Angry Bear.
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Robert Waldmann considers the following as important: psychology, US/Global Economics
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[unable to retrieve full-text content][unable to retrieve full-text content]One of the first observed and best known errors people make when told probabilities is the Allais paradox. People put too much weight on rare extreme outcomes. This means that choices people make different choices when asked to choose between two lotteries with the same probabilities of the same outcomes depending on how they are […] The post The Allais Paradox appeared first on Angry Bear.
Topics:
Robert Waldmann considers the following as important: psychology, US/Global Economics
This could be interesting, too:
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One of the first observed and best known errors people make when told probabilities is the Allais paradox. People put too much weight on rare extreme outcomes. This means that choices people make different choices when asked to choose between two lotteries with the same probabilities of the same outcomes depending on how they are […]
The post The Allais Paradox appeared first on Angry Bear.