KP wrote:
This is a great example of how less mathematical players struggle to really get an idea of their utility function. I can't honestly blame them, it just means that sometimes they can end up playing to over-simplified game plans (like "play for £20,000") as their way of feeling in control and minimising regret.
I think that if you asked people to go through hundreds of hypothetical DoND decisions to produce an estimated utility function for each of them, the vast majority would come up as suggesting a No Deal on that two-box finish, but not too many would play on at 5-box. Well, even if he got it the "wrong way round", he won more this way than if he'd gone at five-box!
Thats a good point. Yeah he may have got it the wrong way round but most people would have gone before the two box offer. And we would all be less critical of the deal if he had the 15k in his box. In that case he would have played a blinder.