For ChrisV

[TomCowley]

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Have you been in a situation where you hear bad things about a person you like and you have a "Oh I cant believe they'd do that" response? Sure you may be able to justify your position through the use of evidence (ie your history with them) but I would suggest that's not how you form the view.

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Assuming the person telling you the story has any credibility with you, then the story *is* evidence. It's not as strong as firsthand evidence, but it still changes the price. If the person telling you the story is known as a total BSer, has an obvious agenda, or is just flat out mentally insane, then the price would change very little, if at all.

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Someone you respect and admire, with a better memory than you disagrees on some personal interaction between you. You can remember it, clear as day, being fundamentally different than how he recounts it. Have you been in the situation where you (at least intially) stubbornly persist in your version of events, even though the other guy is more usually right than you (or perhaps even though there are several people telling you you're wrong)?

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It's all evidence. The fact that the guy remembers it differently changes the price. His confidence in his version changes the price more. Any independent corroboration changes the price even further. Eventually the price will be that you're most likely wrong. It doesn't occur instantly or without some emotional response, as it's normal human tendency to question things that contradict your beliefs much more than things that confirm them.