This derives from the circumstance that risky choice experiments involving monetary payoffs although increasingly popular are either limited to small payment amounts or have a reduced subject pool due to researcher's budget scarcity. Incontrovertibly, during the past 20 years extensive research has been done on the behavior displayed by TV game shows contestants. The usage of game shows to assess risk aversion and decisions under uncertainty is well recognized in the economics and finance literature. This paper studies risky decision making in the context of the television game show Deal or No Deal – Italian edition.

The full terms of this licence may be seen at Anyone may reproduce, distribute, translate and create derivative works of this article (for both commercial and non-commercial purposes), subject to full attribution to the original publication and authors. This article is published under the Creative Commons Attribution (CC BY 4.0) licence. Ĭopyright © 2022, Andrea Morone, Marco Santorsola and Paola Tiranzoni License (2023), 'Deal or No Deal: comparing individual and group choices in a risky context', Journal of Economic Studies, Vol. occasional business partners, representative at other companies/institutions, insurance/finance advisors, new work colleagues, etc.).

Indeed, in many instances the authors have to contract/make decisions with people the authors do not know/know very little (i.e. The special edition therefore provides a unique setting (absent to best of the authors’ knowledge in the literature) for investigation and could offer real-world insight. It is not uncommon to have couples playing on TV, however the individuals usually know each other well and have relationships in real life. In the “Deal or No Deal” special edition contestant were groups of two strangers.

Deal or no deal board game rules