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Doug_S. comments on The Affect Heuristic - Less Wrong

37 Post author: Eliezer_Yudkowsky 27 November 2007 07:58AM

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Comment author: Doug_S. 27 November 2007 04:08:38PM 3 points [-]

Or consider the report of Denes-Raj and Epstein (1994): Subjects offered an opportunity to win $1 each time they randomly drew a red jelly bean from a bowl, often preferred to draw from a bowl with more red beans and a smaller proportion of red beans. E.g., 7 in 100 was preferred to 1 in 10.

How many times do I get to draw, and is it with or without replacement? If I get to draw every bean in the bowl, the number of non-red beans doesn't matter. ;)

"I proudly include myself in the idiot category... no matter how smart you are, you spend much of your day being an idiot." - Scott Adams, wise man