Syndetics cover image
Image from Syndetics

Solving the Price is right : how mathematics can improve your decisions on and off the set of America's celebrated game show / Justin L. Bergner.

By: Material type: TextTextPublisher: Guilford, Connecticut : Prometheus Books, [2023]Copyright date: ©2023Description: 270 pages : illustrations (black and white) ; 23 cmContent type:
  • text
Media type:
  • unmediated
Carrier type:
  • volume
ISBN:
  • 9781633888517
  • 1633888517
Subject(s):
Contents:
Key observations -- Contestant's row observations -- Contestant's row underbidding and anchoring -- Bidding, the game theoretic perspective -- Contestant's row strategy -- putting it altogether -- Showcase showdown -- The mystery of second showcase underperformance -- Showcase -- other observations -- Flow of the show -- Pricing games -- overview and role of heuristics -- Two item pricing games -- Three item pricing games -- Four item pricing games -- Price guess games -- Cash games -- Grocery games -- Small item pricing games -- Car pricing games, part 1 -- Car pricing games, part 2 -- Car plus games -- Other car games.
Summary: "Solving The Price is Right is an in-depth exploration of the underlying probability theory of the popular television program that explores how biases and behavioral pitfalls limit our ability to successfully apply logic and math both on and off the show"-- Provided by publisher.
Holdings
Item type Home library Collection Call number Materials specified Status Date due Barcode Item holds
Adult Book Adult Book Main Library NonFiction 519.2 B499 Available 33111010978332
Total holds: 0

Enhanced descriptions from Syndetics:

The Price is Right is television's longest-running game show. Since its inception in 1956, contestants have won cars, tropical vacations, diamond jewelry, even a live horse, and the hosts' excited catchphrase "come on down!" has become part of our everyday vernacular. Part of the program's enduring appeal is the apparent ease of the game, guessing the cash value of certain prizes. But, if that's the case, then why do so many contestants come away from the show empty-handed?

Solving The Price is Right is an in-depth exploration of the underlying probability theory of the popular television program that explores how biases and behavioral pitfalls limit our ability to successfully apply logic and math both on and off the show. With rigorous data and analysis compiled from Seasons 47 and 48 (356 total episodes), investor and math practitioner Justin L. Bergner draws strategic and mathematical insights from all facets of the show, from Contestant's Row bidding to the Showcase Showdown, and all 77 Pricing Games, using a combination of game theory, probability theory, statistics, and pattern recognition. In each section, Bergner summarizes contestant performance, highlights the biases leading to sub-par outcomes, and shows how outcomes can be improved by executing the right strategies while avoiding cognitive biases.

Throughout, 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.

"Solving The Price is Right is an in-depth exploration of the underlying probability theory of the popular television program that explores how biases and behavioral pitfalls limit our ability to successfully apply logic and math both on and off the show"-- Provided by publisher.

Includes bibliographical references.

Key observations -- Contestant's row observations -- Contestant's row underbidding and anchoring -- Bidding, the game theoretic perspective -- Contestant's row strategy -- putting it altogether -- Showcase showdown -- The mystery of second showcase underperformance -- Showcase -- other observations -- Flow of the show -- Pricing games -- overview and role of heuristics -- Two item pricing games -- Three item pricing games -- Four item pricing games -- Price guess games -- Cash games -- Grocery games -- Small item pricing games -- Car pricing games, part 1 -- Car pricing games, part 2 -- Car plus games -- Other car games.

Powered by Koha