Markets

Mohamed El-Erian compared coronavirus stimulus packages to a poker game, and warned policymakers going ‘all in’ could backfire

Global economic stimulus packages have rapidly been used in the fight against the coronavirus pandemic, but an “all in” approach is not sustainable, famed economist Mohamed El-Erian told IFC Insights in an interview. El-Erian compared emergency government interventions to a poker game and said an all-in approach works well for […]
Mohamed El-Erian compared coronavirus stimulus packages to a poker game, and warned policymakers going ‘all in’ could backfire
Lifestyle

Leaked footage shows the ‘Jeopardy!’ contestant who’s been on a 32-game winning streak losing — meet the professional gambler from Illinois who took home $2.4 million in winnings and nearly broke an all-time record

James Holzhauer, the “Jeopardy!” contestant who’s been dominating on a 32-game winning streak, loses on Monday’s episode, according to leaked footage. Holzhauer’s loss comes after the second-longest winning streak in the show’s history. As of May 31, he had taken home $US2.4 million in winnings. Holzhauer has broken nearly every […]
Leaked footage shows the ‘Jeopardy!’ contestant who’s been on a 32-game winning streak losing — meet the professional gambler from Illinois who took home $2.4 million in winnings and nearly broke an all-time record
News

The greatest tournament in ‘Jeopardy!’ history pits 3 famous champs against each other this week. Here are the tricks they have used to win big.

On Tuesday night, “Jeopardy!” will begin airing its “Greatest of All Time” tournament. The competition pits Ken Jennings, James Holzhauer, and Brad Rutter – arguably the three greatest players the game show has ever seen – against each other. In April 2019, James Holzhauer won more than $US2.4 million during […]
The greatest tournament in ‘Jeopardy!’ history pits 3 famous champs against each other this week. Here are the tricks they have used to win big.
Markets

Game theory perfectly explains why OPEC members are going to cheat

OPEC members have a deal to cap production levels until December. Oil prices are rising. When prices are higher, there is less incentive to cooperate with production caps. With oil prices rising, Organisation of Petroleum Exporting Countries members are facing a dilemma. Extending output caps means making more room in […]
Game theory perfectly explains why OPEC members are going to cheat
US

We tested an economic theory by trying to buy people’s Powerball tickets for much more than they paid

VIDEO: We asked people to sell us their Powerball tickets after the jackpot had risen to $1.5 billion. We offered more than the cost of the ticket. This seemed like a pretty good offer. They could buy a new ticket and pocket the extra cash to come out ahead. Since the odds of winning with the new ticket are exactly the same. However, a cognitive bias known as regret avoidance can make it difficult for people to choose the extra cash.
We tested an economic theory by trying to buy people’s Powerball tickets for much more than they paid