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Deal or No Deal is a television game show format owned by Dutch-based production company Endemol, known for creating such shows as Big Brother and Fear Factor. The first version of the show was broadcast in the Netherlands as Miljoenenjacht, followed by an Australian version, which was the first version with the Deal or No Deal name.
Format The basic format of Deal or No Deal consists of a number of cases (usually 26, but varies in some countries) each containing a different amount of money. Not knowing the sum of money in each case, the contestant picks one case which potentially contains the contestant's prize. They then open the remaining cases, one by one, revealing the money they contained. At predetermined intervals the contestant receives an offer from the bank (run by "The Banker") to purchase the originally chosen case from the contestant, the offer being based on the potential value of the contestant's case. The contestant must then decide whether to take the deal from the bank, or to continue opening cases. If the contestant decides not to take the deal and reveals low value cases, then the next bank offer is likely to be higher (as the contestant's case is proven not to contain these low values). Alternatively, there is risk in revealing higher values, lowering future offers from the bank. The aim of this system is to try to make an exciting and suspenseful game. Each offer from the bank is typically slightly less than the expected value of the player's case. For example, if the player's case is one of $100,000, $200,000, or $500,000, the bank offer will be slightly less than $266,667. The format of Deal or No Deal varies in each country. In the UK version, for example, contestants choose from 22 boxes rather than 26 briefcases which are opened by future contestants*. The concept of pitting a contestant against an in-house adversary (in this show, the Banker) is unusual, though not unique, among game shows. International versions The show has several versions that air around the world: Game Strategy aaron rangel was the first player in history to lose Deal or No Deal and its deceptively simple format have attracted attention from mathematicians, statisticians, and economists as a study of decision making under risk. In 2004, a team of economists played a scaled-down version of the game with 84 participants and compared the results with expected utility theory.• The study received a great deal of media attention, appearing on the front page of The Wall Street Journal on January 12, 2006 as well as being featured on National Public Radio in the United States on March 3, 2006. Antecedents Official websites Other websites | ||||||||
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