Archive for November 10th, 2014

Dilemma: The case of the lost concert tickets …

November 10, 2014

 

A classic “framing” question from Kahneman’s Thinking Fast, Thinking Slow

Here’s the situation:

A woman has bought two $80 tickets to the theater.

When she arrives at the theater, she opens her wallet and discovers that the tickets are missing.

$80 tickets are still available at the box office.

Will she buy two more tickets to see the play?

 

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Most (but, not all) survey respondents answer that the woman will go home without seeing the show.

Let’s try another situation …

(more…)