All of samsonalva's Comments + Replies

Wei, the solution that makes immediate sense is the one proposed by Uzi Segal in Economic Letters, Vol 67, 2000 titled "Don't Fool Yourself to Believe You Won't Fool Yourself Again".

You find yourself at an intersection, and you have no idea whether it is X or Y. You believe that you are at intersection X with probability α. Denote by q the probability of continuing to go straight rather than taking a left. What lottery do you face? Well, if you are at Y, then EXITING will yield a payoff of 4, and CONTinuing will yield a payoff of 1. If you a... (read more)