Suppose I have a deck of four cards: The ace of spades, the ace of hearts, and two others (say, 2C and 2D).
You draw two cards at random.
Scenario 1: I ask you "Do you have the ace of spades?" You say "Yes." Then the probability that you are holding both aces is 1/3: There are three equiprobable arrangements of cards you could be holding that contain AS, and one of these is AS+AH.
Scenario 2: I ask you "Do you have an ace?" You respond "Yes." The probability you hold both aces is 1/5: There are five arrangements of cards you could be holding (all except 2C+2D) and only one of those arrangements is AS+AH.
Now suppose I ask you "Do you have an ace?"
You say "Yes."
I then say to you: "Choose one of the aces you're holding at random (so if you have only one, pick that one). Is it the ace of spades?"
You reply "Yes."
What is the probability that you hold two aces?
Argument 1: I now know that you are holding at least one ace and that one of the aces you hold is the ace of spades, which is just the same state of knowledge that I obtained in Scenario 1. Therefore the answer must be 1/3.
Argument 2: In Scenario 2, I know that I can hypothetically ask you to choose an ace you hold, and you must hypothetically answer that you chose either the ace of spades or the ace of hearts. My posterior probability that you hold two aces should be the same either way. The expectation of my future probability must equal my current probability: If I expect to change my mind later, I should just give in and change my mind now. Therefore the answer must be 1/5.
Naturally I know which argument is correct. Do you?
(EDITED) Computing this the long way, by straightforward application of the product rule, yields probability 1/5.
There is a shortcut corresponding to argument 2. Call H the hypothesis that you have two aces, and E the evidence constituted by my confirming the ace I pick at random is spades. It turns out that P(E|H)=P(E|!H), so the evidence can't change my probability assignment. P(E|H) = P(spades | 2 aces) = 1/2. P(E|!H) = P (spades | 1 ace) = 1/2.
Now do it the long way: I start from P(2A,SR|A), that is, the probability that I hold two aces AND that I chose one at random, getting the ace of spaces, GIVEN that I hold one ace.
By the product rule P(2A,SR|A)=P(2A|SR,A)P(SR|A)=P(SR|2A,A)P(2A|A) and therefore the answer we seek is P(SR|2A,A)P(2A|A)/P(SR|A).
The numerator is easy. P(SR|2A,A)=P(SR|2A)=1/2 and P(2A|A) is as in scenario 2.
The denominator is trickier, requiring one more application of the product rule to get P(SR|A)=P(SR,A)/P(A) and factoring A into the six mutually exclusive possibilities to get P(SR,A). Of these the three which matter are (AS,2C),(AS,2D),(AS,AH) - for these P(SR)=1 for the first two and 1/2 for the last.
Numerically, P(SR|A) comes out to 1/2, which cancels out with the other 1/2, leaving the answer of 1/5. The reason they cancel out is precisely the "shortcut" above: P(SR|A)=P(SR|2A).