When I have watched Deal or No Deal (I try not to make a habit of it) I always do little sums in my head to work out if the banker is offering a good deal. Where odds drop below "evens" it's easy to see it's a bad deal, but what would be the correct mathematical way to decide if you're getting a good deal?
Optimal Strategy for Deal or No Deal
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$\begingroup$
probability
recreational-mathematics
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12You might want to explain how the show works – 2010-07-27
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3I seem to recall that some academic papers have been written on this subject. Economists especially became somewhat interested in the show as a very simple but quantitative experiment in levels of risk aversion. Probably these will be easy to find if you google for them. – 2010-12-08