Ian Pitchford

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Kahneman first documented scope insensitivity thirty years ago when he asked a randomly selected group in Toronto, the capital city of Ontario, how much they would be willing to pay to clean up the lakes in a small region of the province. On average, people said about $10.3 Kahneman asked another randomly selected group how much they would be willing to pay to clean up every one of the 250,000 lakes in Ontario. They too said about $10. Later research got similar results. One study informed people that each year 2,000 migratory birds drown in oil ponds. How much would you be willing to pay to ...more
Superforecasting: The Art and Science of Prediction
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