Would you rather (A) have an 80% chance of winning $4,000 and a 20% chance of winning $0, or (B) get $3,000 as a sure thing?
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@avibryant your choices are classic examples from prospect theory. /cc@TheWill ( see the first example at https://en.wikipedia.org/wiki/Prospect_theory … ) -
@pankaj@avibryant Indeed. My questions were lifted directly from Kahneman's original paper.
End of conversation
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