Comparisons of Predictions of Single Random Events with Judgments of Population Bias

Francis W. Irwin · Judith Rich Harris

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Decision-Making and Behavioral Economics Social and Intergroup Psychology Experimental Behavioral Economics Studies

Abstract

preferable to S by its differential money value--independent outcomevalue (10). The hypothesis was that S would employ smaller samples when their bias was in the preferable direction than when it was in the less preferable direction. S also won or lost money-dependent outcomevalue (DO)-according to whether or not his prediction was correct and he was charged a small amount for each card that he observed.

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