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a single might also bet with A different individual that a press release is genuine or Phony, or that a specified function will come about (a "back again guess") or will never transpire (a "lay guess") within a specified time. This occurs particularly when two individuals have opposing but strongly held views on fact or occasions.
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In economic phrases, this conflicted decision could be modeled being a trade-off in between the result utility received by hedging (e.g., revenue) and also the diagnostic fees it incurs (e.g., disloyalty). folks make inferences regarding their beliefs and identity from their conduct. If someone is uncertain about an facet of her or his identity, such as the extent to which she or he values a candidate or team, hedging might signal to him or her that he or she just isn't as committed to that candidate or crew as she or he initially considered. If the diagnostic price of this self-signal and the ensuing id modify are significant, it may outweigh the end result utility of hedging, and she or he may well reject even pretty generous hedges.[fifty nine]
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