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In: Economics

Use the weighting function or/and other prospect theory concept(s) to explain the following. In surveys, when...

Use the weighting function or/and other prospect theory concept(s) to explain the following.

In surveys, when people were asked whether there are more homicides than suicides in the country every year, most people replied that homicides kill more people than suicides. However, the opposite is true.

People tend to claim that airplanes kill more people than what is actually true.

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Rahul Sunny answered 2 years ago
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