Make sure to check out the cheat sheet at the bottom. Math is pretty awesome when you use it…

Many contestants fail to win anything on The Price is Right, of course. But as I watched the venerable game show that morning, it quickly became clear to me that most contestants haven’t thought through the structure of the game they’re so excited to be playing. It didn’t bother me that Margie didn’t know how much a stainless steel oven range costs; that’s a relatively obscure fact. It bothered me, as a budding mathematician, that she failed to use basic game theory to help her advance. If she’d applied a few principles of game theory—the science of decision-making used by economists and generals—she could have planted a big kiss on Bob Barker’s cheek, and maybe have gone home with … a new car! Instead, she went home empty-handed.

via Winning The Price Is Right: Strategies for Contestants’ Row, Plinko, and the Showcase Showdown..

About the Author Sam Harrelson

Digital Marketing and Technology Consultant and Podcaster at Thinking.FM

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