Episode 83
83. Game Show Winnings
How do TV producers decide how much money to give away? A little psychology and a lot of math. Zachary Crockett phones a friend.
The Economics of Everyday Things
March 10, 202519m 9s
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Show Notes
How do TV producers decide how much money to give away? A little psychology and a lot of math. Zachary Crockett phones a friend.
- SOURCES:
- Bowen Kerins, math teacher and former contestant on Who Wants to Be A Millionaire.
- Arthur Smith, CEO of A. Smith & Co. Productions and author of "Reach: Hard Lessons and Learned Truths from a Lifetime in Television."
- Aaron Solomon, television producer.
- RESOURCES:
- "‘The Price Is Right’ Celebrates 10,000 Episodes With Extra Big Wins for Contestants That Top Off at $100,000!" by Rosemary Rossi (Variety, 2025).
- "Why haven’t more game show prizes been adjusted for inflation?" by Janet Nguyen (Marketplace, 2023).
- "Deal or No Deal? Decision Making under Risk in a Large-Payoff Game Show," by Thierry Post, Martijn J. van den Assem, Guido Baltussen, and Richard Thaler (American Economic Review, 2008).
- "Why Game Shows Have Economists Glued to Their TVs," by Charles Florelle (Wall Street Journal, 2006).
- EXTRAS:
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