On Thu, 2006-06-08 at 07:56 +0800, Pei Wang wrote:
> Whether the common response to the Linda example is a fallacy or not
> depends on the "normative theory" that is used as the standard of
> "correct thinking".

The paper I linked described an experiment in which subjects were paid
for making correct predictions. Subjects failed to follow the
(transparently) optimal betting strategy. I would call that an error.

Here's the paper again:

http://www.princeton.edu/~osherson/papers/nick10.pdf

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