On: Are Entrepreneurs Pirates? 4min Test for HN by Behavioral Economist Dan Ariely

[malandrew]

It would also be interesting to see this survey conducted using natural frequencies instead of percentages. Humans are notoriously bad at reasoning with percentages.

Compare the following:

"I prefer a 1% chance of losing $1000"

"I prefer a 5% chance of losing $1000"

with this:

"I prefer a 1 in 100 chance of losing $1000"

"I prefer a 1 in 20 chance of losing $1000"