What’s going on here? Why won’t these people sell their lottery tickets? Endowment effect? Anticipated regret? Market failure? (Hat tip: Alex Tabarrok, via Marginal Revolution. More details here, via kottke.org.)
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What’s going on here? Why won’t these people sell their lottery tickets? Endowment effect? Anticipated regret? Market failure? (Hat tip: Alex Tabarrok, via Marginal Revolution. More details here, via kottke.org.)
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prior probability 
This is great! I am going to show this in my stats class.
That is going to be a fun class.