06
Jul
10

El problema de Linda, Behavioral Finance en perspectiva

Psy-Fi Blog, tiene un post donde pone el problema de Linda en perspectiva; después ahonda con la critica. Me quedo con el comienzo.

It’s the (in)famous Linda problem:

Linda is 31 years old, single, outspoken and very bright. She majored in philosophy. As a student, she was deeply concerned with issues of discrimination and social justice, and also participated in antinuclear demonstrations. Which of these two alternatives is more probable?

(a) Linda is a bank teller.
(b) Linda is a bank teller and is active in the feminist movement.

Most subjects choose (b) and are informed that they’re irrational because the conjunction of two events – Linda is a bank teller and active in the feminist movement – is less likely than her just being a bank teller, regardless of her leisure interests. This is known as the conjunction fallacy. Unfortunately there’s a teensy little problem with this finding.

(…)

Here’s a variation of the Linda problem carried out by Gigerenzer and colleagues:

Linda is 31 years old, single, outspoken and very bright. She majored in philosophy. As a student, she was deeply concerned with issues of discrimination and social justice, and also participated in antinuclear demonstrations.

There are 100 people who fit the description above. How many of them are:

(a) bank tellers
(b) bank tellers and active in the feminist movement

Guess what happens to the results? Yep, the conjunction fallacy disappears – far more participants now choose (a) than (b). Something odd and deep and important is happening that the mainstream of behavioural finance research is completely failing to understand.


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