Justin L. Bergner
Solving The Price Is Right: How Mathematics Can Improve Your Decisions on and off the Set of America's Celebrated Game Show
Solving The Price Is Right: How Mathematics Can Improve Your Decisions on and off the Set of America's Celebrated Game Show
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- More about Solving The Price Is Right: How Mathematics Can Improve Your Decisions on and off the Set of America's Celebrated Game Show
The book "Solving The Price is Right" is a comprehensive exploration of the probability theory behind the popular television program. It analyzes contestants' performance, highlights biases, and provides strategies to improve outcomes. By applying game theory, probability theory, statistics, and pattern recognition, the book offers insights into decision-making and success in various fields.
Format: Hardback
Length: 282 pages
Publication date: 15 May 2023
Publisher: Prometheus Books
The Price is Right, a television game show that has been running since 1956, has captivated audiences with its exciting gameplay and memorable catchphrase, "Come on down!" Contestants have had the opportunity to win a wide range of prizes, including cars, tropical vacations, diamond jewelry, and even a live horse. However, despite the show's apparent simplicity, many contestants leave empty-handed.
In his book, Solving The Price is Right: An In-Depth Exploration of the Underlying Probability Theory, economist and popular mathematician Justin L. Bergner delves into the underlying probability theory of the show. Through rigorous data analysis from Seasons 47 and 48 (356 total episodes), Bergner explores how biases and behavioral pitfalls limit our ability to apply logic and math both on and off the show.
Bergner begins by summarizing contestant performance and highlighting the biases that lead to sub-par outcomes. He then demonstrates how outcomes can be improved by executing the right strategies while avoiding cognitive biases. Throughout the book, Bergner applies the lessons learned to the fields of business, finance, and our real lives, shedding light on themes of reverse psychology, strategic patience, and the importance of establishing what is sufficient for success in our pursuits.
The result is a truly unique and meticulously researched book that uses Solving The Price is Right as a lens to examine our own choices and how to make better ones. Bergner's insights and strategies will appeal to anyone who has ever watched the show, as well as anyone interested in applying probability theory and game theory to real-world situations.
Weight: 524g
Dimension: 159 x 237 x 30 (mm)
ISBN-13: 9781633888517
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