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don't be sorry!
Yeah, the way he described it was a little different than the way I'm used to see the problem presented
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pull down to refresh
don't be sorry!
Yeah, the way he described it was a little different than the way I'm used to see the problem presented
Sorry to be that guy, but I'm not sure that this example can differentiate between simple risk aversion, and the kind of behavioral loss aversion / endowment effect that Kahneman identifies.
You'd have to show that the choice is different depending on whether they were presented with the open briefcases first, or simultaneously with the choice to take a random unopened briefcase.