They don’t have a single consistent belief it’s 0.66. From each decision they make you can infer a belief, but you’ll soon notice it’s not consistent, though it may be stable within some conditions. Maybe they always act like it’s 0.66 when it’s the first bet, but like it’s 0.33 when they’re offered a second one.
They don’t have a single consistent belief it’s 0.66. From each decision they make you can infer a belief, but you’ll soon notice it’s not consistent, though it may be stable within some conditions. Maybe they always act like it’s 0.66 when it’s the first bet, but like it’s 0.33 when they’re offered a second one.