Power5 wrote:
a lot of contestants have an amount they are very reluctant to risk if it is on offer, and that's how we define the target-driven player.
Put into the utility context, a point of inflection on their utility curves, one that tends to get magnified in the simplified utility analysis players will bring to the Crazy Chair (almost all of them without having ever heard the terminology, of course!).
Quote:
What's right for the majority isn't necessarily right for the contestant in the chair, so it might be the "right decision" for that person even if 99% of viewers would do the opposite
Quite. And it never ceases to amaze me how much of a variety there is in attitudes - though I suspect the majority of really informed decision-makers end up in a smaller spectrum probably roughly bounded by your risk preferences at one end and mine at the other. I've been called a big gambler by my mum in a DoND context for saying I'd turn down Jenny's eight-box offer on Boxing Day 2006... which, for the 99% of you who don't remember that (and I had to look it up myself) is this:
Quote:
10p
£1
£50
£100
£250
£5,000
£15,000
£250,000
Banker's offer:
£8,000
And at the same time James1978 has a friend who makes Wakey look like my mum.