Has anyone heard of the game show Deal or no Deal? I was intrigued to find out that this game is a treasure trove of data for economic researchers to calculate how people act under risk and certain terms like risk premiums, certainty equivalents etc. It also shows how people have the ‘hot hand fallacy’ where they think if they’ve been lucky for long, they will continue to be lucky even though the probabilities are independent. Interestingly, if the contestants have been unlucky for really long, they also feel that the next turn will be their ‘lucky turn’. Read this study for insight into decisions under risk!
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I’ve watched Deal or No Deal before, but I never realized the connection it had to studying risk-taking behaviour. It’s intriguing how a game show can provide valuable insights into such complex economic concepts. Thanks for highlighting this fascinating correlation!
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Deal or No Deal is a classic! It’s fascinating how researchers use the show to delve into economic behaviours. Have you come across any other unexpected sources of data or studies that shed light on decision-making processes?
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Yes, Deal or No Deal is quite fascinating in terms of behavioral economics. It’s intriguing how contestants’ perceptions of luck and risk influence their decisions.
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i love when real life games show how our economics theories can be applied!
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This show was always so entertaining to watch
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Deal or no Deal is such a classic! It’s fascinating how it reveals insights into human behaviour and how we perceive luck 
interesting article!
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game shows are such an unexpected treasure trove for data!!
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Have never heard about this show before! As i’m quite interested in the Game Theory, will check it out for sure