Type:
Volume:
31(2)
Pages:
Online
Year:
2009
Publisher:
Teaching Statistics
URL:
http://www3.interscience.wiley.com/journal/122324625/abstract
Abstract:
When two sealed envelopes contain money, one twice as much as the other, a player should be indifferent between them. But when one envelope is opened, one's decision should vary as a function of the observed value and one's subjective probabilities.
The CAUSE Research Group is supported in part by a member initiative grant from the American Statistical Association’s Section on Statistics and Data Science Education