Deal or No Deal - an expected value game

This is a simple hand-run version of the worldwide TV game show  Deal or No Deal with which all or virtually all of your students will be familiar. You can see an online version here. It is easy to set up with minimal equipment and is fun for the students to play. It can be used to demonstrate expected value and risk attitudes and students can use it to make calculations. It can also demonstrate the diminishing marginal utility of income.