I have always been fascinated by game theory and rational choice theories. How is it we make decisions particularly ones that involve choice or doubt. Thought this worth sharing.
Monty Hall Problem has struck again
"Here’s how Monty’s deal works, in the math problem, anyway. (On the real show it was a bit messier.) He shows you three closed doors, with a car behind one and a goat behind each of the others. If you open the one with the car, you win it. You start by picking a door, but before it’s opened Monty will always open another door to reveal a goat. Then he’ll let you open either remaining door.
Suppose you start by picking Door 1, and Monty opens Door 3 to reveal a goat. Now what should you do? Stick with Door 1 or switch to Door 2?"
http://www.nytimes.com/2008/04/08/science/08tier.html
http://www.nytimes.com/2008/04/08/science/08monty.html
Monty Hall Problem has struck again
"Here’s how Monty’s deal works, in the math problem, anyway. (On the real show it was a bit messier.) He shows you three closed doors, with a car behind one and a goat behind each of the others. If you open the one with the car, you win it. You start by picking a door, but before it’s opened Monty will always open another door to reveal a goat. Then he’ll let you open either remaining door.
Suppose you start by picking Door 1, and Monty opens Door 3 to reveal a goat. Now what should you do? Stick with Door 1 or switch to Door 2?"
http://www.nytimes.com/2008/04/08/science/08tier.html
http://www.nytimes.com/2008/04/08/science/08monty.html