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These are the given options that we must choose from and place in the void The prospect theory indicated that humans perform an editing phase
These are the given options that we must choose from and place in the void
The prospect theory indicated that humans perform an editing phase before the evaluation - match the following edit phases Coding Choose... Dominance Choose... Segregation Choose... Simplification Choose... Combination Choose... Cancellation Choose... Choose... ignore common components defining outcomes as gains or losses 80% chance to win $300 and 20% chance to win $200 = $200 sure gain plus 80% chance of winning $100 and 20% chance of $0 49% chance = 50% compare ($300,0.8; $200,0.2) to sure $100 and ($100, 0.8), discard sure $100 and ($100, 0.8 ($200, 0.25; $200, 0.25) becomes one chance to win $200 with a probability of 50%
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