In: Economics
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.
The experement was as follows
There are certain coloured lights
Its just a guessing game in which there are 2 entities
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
If it is actually random, then the most significant strategy is to always guess A, and with the correct with probability p.
HOPE THIS HELPS
PLEASE COMMENT FOR DOUBTS