A baseball decision problem

A baseball decision problem

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Article ID: iaor20061313
Country: United States
Volume: 5
Issue: 1
Publication Date: Jan 2004
Journal: INFORMS Transactions on Education
Authors: ,
Keywords: decision: applications, education in OR
Abstract:

This paper presents a Kahneman–Tversky type probability example in a baseball context with a counter-intuitive best strategy. The problem is ideally suited for classroom discussion in an introductory course on probability or managerial decision-making.

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