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We examine a logical decision problem, the "Monty Hall Dilemma," in which a large portion of sophisticated subjects insist on an apparently wrong solution. Although a substantial literature examines the structure of this problem, we argue that the extant analyses have not recognized the...
Persistent link: https://www.econbiz.de/10005125570
uncertainty will cause individuals to display a disparity between WTA and WTP. Our review of the literature confirms that the WTA … experiments that attempt to measure such uncertainty more directly and examine how it relates to the WTA-WTP disparity. Our …
Persistent link: https://www.econbiz.de/10005556676