Thursday, July 24, 2008

The Monty Hall Problem

The New York Times has an interesting puzzle up called the Monty Hall Problem. As someone with an interest in behavioural finance, I've long had an interest in these sorts of cognitive errors.

Before clicking on the link to play, I'll give you a helpful question to ask yourself: what is the difference between Monty opening another door after you've picked one and another door being opened randomly?

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