Let's make a deal in the classroom: Institutional solutions to the Monty Hall Dilemma

Abstract

The authors describe how the Monty Hall Dilemma, a well-known choice anomaly, can be demonstrated with a simple and versatile classroom experiment. In addition to demonstrating the anomaly, the experiment can be used to introduce students to some institutional modifications that have been shown to ameliorate it. This experiment, which can be tailored by instructors to meet specific learning objectives for a variety of courses, can also be used to frame broader discussions about rationality, institutions, and choices under uncertainty.

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