We examine the risky choices of contestants in the popular TV game show “Deal or No Deal” and related classroom experiments. Contrary to the traditional view of expected utility theory, the choices can be explained in large part by previous outcomes experienced during the game. Risk aversion...

This paper examines the effect of incentives on the performance of darts players. We analyze four data sets comprising a total of 123,402 darts matches of professional, amateur, and youth players. The game of darts offers an attractive natural research setting, because performance can be...