Unformatted text preview: stated is different? Simplifying the Choice Problem and the Use of Similarities The following experiment was also conducted by Tversky and Kah-neman. One group of subjects was presented with the following choice: Choose one of the two roulette games a or b . Your prize is the one corresponding to the outcome of the chosen roulette game as speciFed in the following tables: ( a ) Color White Red Green Yellow Chance % 90 6 1 3 Prize $ 45 30 − 15 ( b ) Color White Red Green Yellow Chance % 90 7 1 2 Prize $ 45 − 10 − 15 A different group of subjects was presented the same background information and asked to choose between: ( c ) Color White Red Green Blue Yellow Chance % 90 6 1 1 2 Prize $ 45 30 − 15 − 15...
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This note was uploaded on 12/29/2011 for the course ECO 443 taught by Professor Aswa during the Fall '10 term at SUNY Stony Brook.
- Fall '10