The Conjunction Fallacy: Explanations of the Linda Problem by the Theory of Hints
AbstractEmpirical research has shown that in some situations subjects tend to assign a probability to a conjunction of two events that is larger than the probability they assign to each of these two events. This empirical phenomenon is traditionally called the conjunction fallacy. One of the best known experiment used to demonstrate the conjunction fallacy is the Linda problem introduced by Tversky and Kahneman in 1982. They explain the “fallacious behavior” by their so-called judgemental heuristics. These heuristics have been heavily criticized by Gigerenzer (1996) as being far “too vague to count as explanations”. In this paper, it is shown that the “fallacious behavior” in the Linda problem can be explained by the so-called Theory of Hints developed by Kohlas and Monney in 1995.
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Bibliographic InfoPaper provided by Faculty of Economics and Social Sciences, University of Freiburg/Fribourg Switzerland in its series FSES Working Papers with number 347.
Length: 20 pages
Date of creation: Apr 2002
Date of revision:
Publication status: Published in International Journal of Intelligent Systems, 2003, vol. 18, no. 1, pp. 75-91.
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