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Many people would select Prize A the first time, and Prize B the second time.
In both cases, the prizes can be expressed this way:
Prize A | Prize B |
90% chance of winning Amount X 10% chance of winning $1 Million |
90% chance of winning Amount X 9% chance of winning $10 Million 1% chance of winning nothing |
Where in the first question Amount X was $1 Million, and in the second question Amount X was $0.
But amount X is the same for both Prize A and Prize B, and the chances of winning Amount X are the same in both cases. So the value of Amount X cannot determine whether Prize A or Prize B is more attractive.
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