Do you mean “certain number of wins”? Number of heads is independent of their guesses, and number of correctly-guessed heads is asking a different question than the original experiment
Also, I think the study actually did offer enough money to be motivating, and given that the average payout was $91 and 28% of people went bust, I’m updating based on that study to think people are really bad at betting. Although I think that using “escape from discomfort” as motivator would be better than small token payouts, this study’s reward is probably more motivating and a better way to study the topic than the one I proposed.
Do you mean “certain number of wins”? Number of heads is independent of their guesses, and number of correctly-guessed heads is asking a different question than the original experiment
Yes, I meant certain number of wins. Good catch.
Also, I think the study actually did offer enough money to be motivating, and given that the average payout was $91 and 28% of people went bust, I’m updating based on that study to think people are really bad at betting. Although I think that using “escape from discomfort” as motivator would be better than small token payouts, this study’s reward is probably more motivating and a better way to study the topic than the one I proposed.