4-20-07 RevReasAddnlHO2

4-20-07 RevReasAddnlHO2 - Reasoning, continued...

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    Reasoning, continued Supplementary Slides
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     The Form Of The Question Problem 1: Which Would You Choose? You are given $ 1,000 . In addition, you may choose between: A) A 50 % chance of an additional $ 1,000 . or A) A 100 % chance of an additional $ 500 .
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    The Form Of The Question  (Continued) Problem 2: Which Would You Choose? You are given $ 2,000 . In addition, you may choose between: C) A 50 % chance of losing $ 1,000 . or D) A 100 % chance of losing $ 500 .
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     Results Prob. Choice Description Chosen 1 (Gain) A 50% chance of  $2000 1 (Gain) B 100% chance of  $1500 84% 2 (Loss) C 50% chance of  $2000 2 (Loss) D 100% chance of  $1500 70%
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  The Form Of The Question  (Continued) Problem 3: Which Would You Choose? Imagine that the United States is preparing for the outbreak of an unusual Asian disease, which is expected to kill 600 people. Two alternative programs to combat the disease have been proposed: A) A 100% chance of saving 200 people. or
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4-20-07 RevReasAddnlHO2 - Reasoning, continued...

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