Choosing in the Ellsberg Paradox

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Arzina333
Posts: 121
Joined: Wed Dec 04, 2024 4:11 am

Choosing in the Ellsberg Paradox

Post by Arzina333 »

Referring events
YouTube also indicates per video what the important 'referring events' are for the video. These are the most important 8 for my video:


From event 6 and certainly event 7, the video clearly goes viral . But why? Is it because of the common word Twins in the title name? Or is it something else? I can't figure it out based on the information that YouTube offers me. However, the number of viewers does shoot up after that, which also causes the video to be suggested more at the end of other videos. What that teaches me: keep a close eye on your YouTube statistics. That way you not only find out what the tipping point is, but you also create momentum to get more out of your video.

Can I make money with this video now?
A million views. An interesting question then arises: how do I benefit from it? In the meantime, I have become a partner of YouTube, which means that you can earn money with your videos by also allowing advertising on your video channel. The counter is still at less than a dollar. For a success story, I refer you to a collaboration partner, namely Michel Penterman . You shouldn't come to me for that. What does that teach me? That you have to be there early.

Unexplained Virals
Is it coincidence or is it logical that our video appears in the search engines in America? Funny baby videos are apparently just fun to watch. But is it coincidence that my wife's friend enters the right search terms on YouTube to watch funny baby videos, which makes it 'logical' that the video appears in one of the suggested videos? I really don't know. I probably made one of those inexplicable virals , like Charly bit my finger . But perhaps you have a logical explanation?



mbiguity aversion' is in my experience a lesser known cognitive bias than for example loss aversion and risk aversion . Yet precisely that aversion to ambiguity (also) provides very strong and concrete handles to seduce your customers online.

The ambiguity aversion effect
Ambiguous choices are choices that are characterized poland phone data by a lack of certainty (e.g. missing information). The effect works as follows: the more likely the outcome of a choice, the greater the willingness to choose.

Scientific evidence


The effect was popularized by Daniel Ellsberg (1961) and is therefore also called the “ Ellsberg Paradox ” (incidentally, Allsberg is better known for the ' Pentagon Papers ' on decision-making during the Vietnam War). An example: Imagine a bucket with 30 balls in the colors red, black and white. Of these balls, 10 are red. The other twenty balls are a combination of black and white balls (all combinations are equally likely). You can now choose from three games.
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