David Bourget (Western Ontario)
David Chalmers (ANU, NYU)
Rafael De Clercq
Jack Alan Reynolds
Learn more about PhilPapers
Thinking and Reasoning 14 (4):365-394 (2011)
The “exchange paradox”—also referred to in the literature by a variety of other names, notably the “two-envelopes problem”—is notoriously difficult, and experts are not all agreed as to its resolution. Some of the various expressions of the problem are open to more than one interpretation; some are stated in such a way that assumptions are required in order to fill in missing information that is essential to any resolution. In three experiments several versions of the problem were used, in each of which the information given was sufficient to determine an optimal choice strategy when it exists or to justify indifference regarding keeping or trading when such a strategy does not exist. College students who were presented with the various versions of the problem tended to base their choices on simple heuristics and to give little evidence of understanding the probabilistic implications of the differences in the problem statements
|Keywords||No keywords specified (fix it)|
|Categories||categorize this paper)|
Setup an account with your affiliations in order to access resources via your University's proxy server
Configure custom proxy (use this if your affiliation does not provide a proxy)
|Through your library|
References found in this work BETA
No references found.
Citations of this work BETA
No citations found.
Similar books and articles
Paul Syverson (2010). Opening Two Envelopes. Acta Analytica 25 (4):479-498.
Timothy Bays (2006). The Mathematics of Skolem's Paradox. In Dale Jacquette (ed.), Philosophy of Logic. North Holland. 615--648.
A. D. Irvine (1993). How Braess' Paradox Solves Newcomb's Problem. International Studies in the Philosophy of Science 7 (2):141 – 160.
Louis Marinoff (1994). A Resolution of Bertrand's Paradox. Philosophy of Science 61 (1):1-24.
Louis Marinoff (1996). How Braess' Paradox Solves Newcomb's Problem: Not! International Studies in the Philosophy of Science 10 (3):217 – 237.
Frederick Kroon (1993). Rationality and Epistemic Paradox. Synthese 94 (3):377 - 408.
Nicolaas J. Vriend (2003). 'From Exchange It Comes to Tears'. A Dutch 'Folk Theorem' Reconsidered. Theory and Decision 55 (4):315-338.
Nicholas Shackel (2007). Bertrand's Paradox and the Principle of Indifference. Philosophy of Science 74 (2):150-175.
Raymond S. Nickerson & Ruma Falk (2006). The Exchange Paradox: Probabilistic and Cognitive Analysis of a Psychological Conundrum. Thinking and Reasoning 12 (2):181 – 213.
Added to index2009-01-28
Total downloads15 ( #124,583 of 1,679,298 )
Recent downloads (6 months)3 ( #78,760 of 1,679,298 )
How can I increase my downloads?