Tag Archives: disagree

only the allais paradox

Thoughts of the day (edited)

  • How can they be identical when you replaced values in the process? (see picture about the Allais Paradox
  • moment of panic = recall to focus

Allais paradox - how does it work?

I came across the paradox during my course on Behavioural Economics. I guess pure curiosity brought me to that course. Yes, it was interesting that there is even a science about our day to day stuff. This Allais Paradox is describing 2 different problems, where in problem A most human beings would chose option A and in problem B most human beings would chose option B. The author of that video did some minor changes to the options and it turns out to be the exact same problems (A=B), but humans are making different choices. But something in my is hesitating to accept that (I guess as usual, hehehe). I agree one can move around some variables and still have the same expression, but in this case the author actually change actual numbers, like replacing 123 with 389 in problem A and comparing it with 389 from problem B and conclude that is the same!

If you are interested have a look at the actual video https://youtu.be/wvCt8wD8sYc and let me know if I am missing something.

Anyway, I might not find enough time to dig into it deeper … work pensum is increasing but I also need to learn to focus. Distraction is the least I need now if we want to make those publications happening.