The misuse of games to model real-life situations. The adjective ludic originates from the Latin noun ludus, meaning
"play, game, sport, pastime"
Two people are involved:
- Dr. John who is regarded as a man of science and logical thinking
- Fat Tony who is regarded as a man who lives by his wits
A third party asks them to "assume that a coin is fair, i.e., has an equal probability of coming up heads or tails when
flipped. I flip it ninety-nine times and get heads each time. What are the odds of my getting tails on my next throw?"
- Dr. John says that the odds are not affected by the previous outcomes so the odds must still be 50:50.
- Fat Tony says that the odds of the coin coming up heads 99 times in a row are so low that the initial assumption that
the coin had a 50:50 chance of coming up heads is most likely incorrect. "The coin gotta be loaded. It can't be a fair