FAIL: Thumbtack Test

Investing €5 in exchange for €20~ why not right? (Photo c/o Stefano Cantù)

For Managerial Decision Making class, our professor did a recap of the entire Decision Tree exercise. Here, we played another game called the "Thumbtack test". How it works is that in order to participate, the contestant must pay €5 in exchange for a possible payout of €20. The contestant must decide whether the thumbtack would face up or down.

I volunteered for this one~ I thought the payout was pretty good (I likewise felt I had a good chance to win the bet in class). I chose "up". Our professor then selected someone to independently throw the thumbtack in the air.

And~ as all things are, life can be quite strange... and fair. I got the other 50% against my favor.

Regardless, it was an interesting lesson though. A memorable €5 educational experience! Oh well, maybe next time!