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Tag Archives: Probability
Gambling with the undead
(featured image credit: Dov Harrington CC BY) In these surreal times, it is good to acknowledge the gambles we and others make I am a gambler. The UK is in a near-lockdown state, and yesterday I needed to go to … Continue reading
Posted in Behavioural economics, Psychology, Society
Tagged coronavirus, Probability, uncertainty
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Strange excesses: on insurance and probabilities
How insurance can sometimes be a gamble in more than one way Are you a gambler? Let’s not count lottery draws, or even the occasional punt on a horse or the result of a football match. If we exclude these, … Continue reading
Posted in Behavioural economics, Economics, Psychology
Tagged excess, insurance, Probability
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Monty Hall forever
(credit: khiemtran87/Wikipedia) A baffling decision-making problem that illustrates surprising irrationalities Last Saturday, Monty Hall, a Canadian game show host died at the ripe old age of 96. He presented more than 10 different programmes, both on radio and television, in … Continue reading
Posted in Behavioural economics, Cognitive biases and fallacies
Tagged Monty Hall, Probability
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