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2) Consider the following experiment run by Kahneman and Tversky. Just to be clear, they asked one group if they preferred Program A or Program B and the majority selected A. They asked a second group if they preferred Program C or Program D and the majority selected D. Note that Programs A and Care identical and Programs B and D are identical. What idea in behavioral economics explains this? Problem 1 [N = 152]: Imagine that the U.S. is preparing for the outbreak of an unusual Asian disease, which is expected to kill 600 A second group of respondents was people. Two alternative programs to combat given the cover story of problem I with a the disease have been proposed. Assume that different formulation of the alternative the exact scientific estimate of the con- sequences of the programs are as follows: programs, as follows: If Program A is adopted, 200 people will be Problem 2 [N = 155]: saved. [72 percent] If Program C is adopted 400 people will die. If Program B is adopted, there is 1/3 probabil- [22 percent] ity that 600 people will be saved, and If Program D is adopted there is 1/3 probabil- 2/3 probability that no people will be ity that nobody will die, and 2/3 probabili- saved. [28 percent] ty that 600 people will die. [78 percent] Which of the two programs would you favor? Which of the two programs would you favor