A Decision Making Error - Easy Question

[David Sklansky]

The answer that I was looking for and the one that has general implications was that the gift that lost the head up contest could still easily be more likely to win in a five way contest. In other words many of the 40% would choose it first among five but not so for the 60% who chose the other gift. If I had told you that the losing gift was a Mickey Mantle, (I think) autographed baseball the answer would have been obvious.