Economic

We discussed in class anchoring and adjustment. These concepts go under the umbrella labelled representativeness; the notion that we form judgements by following rules of thumb which for the most part are functional and practical but could also lead us to big mistakes. From that perspective, which of the following two outcomes seem more likely: getting 1-2-3-4-5 or 3-3-3-3-3 when rolling five dice? Explain