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Distortion of Subjective Probabilities as a Reaction to Uncertainty

William Fellner

The Quarterly Journal of Economics · 1961 · Volume 75 · Issue 4

DOI: 10.2307/1884325

Abstract

I. Observation of slanted probabilities and computation of the correction factor, 670. — II. The question of rationality, 677. — III. Two small experiments, 686.

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