Reference no: EM132157378

You are walking down a busy street during a carnival when one booth catches your eye, so you walk over to take a closer look.

There are 3 boxes on a table. The man behind the table tells you that you for $1 you have a 1/3 chance of winning a prize - all you have to do is to choose the box with the prize in it. You decide to play.

You choose box #1. The man opens up box #3 which happens to be empty. He says you are that much closer to winning the prize - but he's going to give you an interesting choice: do you want to stick with box #1, or change your mind and choose box #2?