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That’s amazing. I even think it is ridiculous that when offered 20% higher reward for changing choices, when both cups have the same chance, people don’t jump a
by michaelteter 3y ago
That’s amazing. I even think it is ridiculous that when offered 20% higher reward for changing choices, when both cups have the same chance, people don’t jump at the better (change) offer.
How could someone become attached to a random chance cup?
- lelanthran 3y agoSounds perfectly rational to me: the host does not tell the participant that they don't know which is the winning cup. The participant then assumes, quite rationally, that they are being tricked into losing. This is a really poor experiment, to be honest, because it is measuring the host's appearance of honesty, not the risk appetite of the subject.