Who Wants to be a Millionaire? A Behavioral Economy Analysis^*

Abstract

In this chapter, the authors studied cognitive biases such as certainty effect, isolating effect, and overconfidence effect in the Turkish version of “Who Wants to be a Millionaire” TV show. The research was carried out by watching the show during different dates between September 2013 and April 2015 and filling in a questionnaire, which consists of 25 questions. A total of 408 contestants were observed and evidence was found for both certainty and isolation effects.

Citation

Tufan, E., Engin, B., İmer, Y. and Aycan, M. (2019), "Who Wants to be a Millionaire? A Behavioral Economy Analysis^*", Grima, S., Özen, E., Boz, H., Spiteri, J. and Thalassinos, E. (Ed.) Contemporary Issues in Behavioral Finance (Contemporary Studies in Economic and Financial Analysis, Vol. 101), Emerald Publishing Limited, Leeds, pp. 205-213. https://doi.org/10.1108/S1569-375920190000101014