WTF?…….
The Monty Hall Dilemma is a probability puzzle that is notorious for eliciting suboptimal decisions from humans. A participant is given a choice from among three doors, one of which conceals a valuable prize. After an initial selection, one of the remaining, nonwinning doors is opened, and the participant is given a chance to switch to the other unopened door. The probability of winning is higher if the participant switches. Pigeons maximize their wins by switching on virtually all trials of a Monty Hall Dilemma analogue, whereas humans utilize a suboptimal strategy involving probability matching. Possible reasons for the difference between these two species’ performance are considered.
More here – Current Directions in Psychological Science
Maybe we should check with a pigeon before placing a trade.
As someone who in a past life would see people spending months on grant applications I cannot help but think that some idiot paid for this….
From the author’s resume under “Grants” (GIYF)…
“The Monty Hall Dilemma as a Model of Optimal Choice in Pigeons ( Columba livia ) and Humans ( Homo sapiens ). Louis B. Perry Summer Research Award. Whitman College, 20011 (With Shanglun Wang). Total costs $6,500 “