Which description of Mary has higher probability? a. Mary loves to play tennis. b. Mary loves to
Question:
a. Mary loves to play tennis.
b. Mary loves to play tennis and, during the summer, averages at least a game a week.
Explain your answer. Define the conjunction fallacy. How does it apply here? Assume for the purpose of illustration that the probability that someone loves to play tennis is .2; the probability that someone plays tennis once or more a week during the summer is .1; and the probability of one or the other of these things is .22.
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Related Book For
Behavioral Finance Psychology Decision-Making and Markets
ISBN: 978-0324661170
1st edition
Authors: Lucy Ackert
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