Question

In: Economics

According to Dan Ariely, why do rats beat us in experiments in which we are trying...

According to Dan Ariely, why do rats beat us in experiments in which we are trying to guess the next color of the light? Explain the experiment and the results.

Solutions

Expert Solution

The experement was as follows

There are certain coloured lights

Its just a guessing game in which there are 2 entities

  • RAT
  • HUMAN

The game is to guess the next colour

Most of the time RAT did the correct answer where as it beat human in predicting right one

The fact what happened is as follows

  • When the humans guess they try to match the colour to the recent frequency and guess
  • Humens always go back of pattern
  • THe randomness is what happen right here in this game as there wasnt any pattern
  • The human mind is not ready to leavy the patterns and they never feel its going to be random
  • If it is actually random, then the most significant strategy is to always guess A, and with the correct with probability p.
    
  • Humens always bileave there is a pattern like there is B which is not used in many lighting conditions like this pattern based guessing
  • Rats found out greenlight comes more and guess the green light which usually became correct
  • But humans in the other hands went back to patterns and reduced the probability to 68%

HOPE THIS HELPS

PLEASE COMMENT FOR DOUBTS


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