![]() ![]() ![]() We make all kinds of similar irrational choices in our daily lives. So, why would people make contrary choices, even if the gain remains the same and the only difference being the description? On the other hand, if you’d like to take the opportunity to win the $2,000, then you should choose both options giving you a 50% chance to achieve it. If you are happy with $1,500, then you should pick both options offering the same resulting amount with a 100% chance. ![]() However when you think carefully, you'll see that the two questions are virtually identical. When answering the second question, however, most people chose the prospect with a 50% chance of losing $1,000. The result showed that for the first question, the majority picked the option with a 100% chance of winning $500. These were the two questions that the two psychologists asked their research participants. Question two: You've been given $2,000, and you need to choose from another two options. Question one: Imagine you’ve been given $1,000, and you need to choose from two options. Today we’ll unlock the book The Undoing Project: A Friendship That Changed Our Minds.īefore we proceed, first think of the following two questions. ![]()
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