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This is a blog on why we believe and do what we do, why we pretend otherwise, how we might do better, and what our descendants might do, if they don't all die.
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This paper reports the results of a series of experiments designed to test whether and to what extent individuals succumb to the conjunction fallacy. Using an experimental design of Kahneman and Tversky (1983), it finds that given mild incentives, the proportion of individuals who violate the conjunction principle is significantly lower than that reported by Kahneman and Tversky. Moreover, when subjects are allowed to consult with other subjects, these proportions fall dramatically, particularly when the size of the group rises from two to three. These findings cast serious doubts about the importance and robustness of such violations for the understanding of real-life economic decisions.
Hat tip to Dan Houser.
What Conjunction Fallacy?
For that reason plenty of superstars bring Replicas LV purses, as an example Jennifer Lopez, Jessica Simpson and the like sometimes one tend not to genuinely notice the superstar though the Gucci these folks wear the ensemble.?
You are right; my bad.