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Free to choose. A different answer to a known puzzle

Francisco Galera, Gema Carrera-Gomez and Pablo Coto-Millán ()

Applied Economics Letters, 2004, vol. 11, issue 5, 311-312

Abstract: Nalebuff (Journal of Economic Perspectives, 1(2), 157-63, 1987) proposes a puzzle and a standard solution to the mentioned puzzle based on Bayes theorem. After giving the standard solution to this problem, Professor Nalebuff asked: 'Since many if not most individuals choose to stay with their original choice, does this suggest we should look for alternatives to Bayes rule?' In this paper a right answer to that question is proportionated.

Date: 2004
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DOI: 10.1080/1350485042000221580

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