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Author - John Shepherd - Fall 1999

Case Purpose This case introduces decision matrices and help students figure out what the "expected value EV strategy is.

Relation to Texts In Chapters 9 and 10, Giere introduces decision matrices as a way of deciding how to make the best possible choice when faced with a decision.  Identifying the decision-making strategies is simple for some cases, but students have a harder time understanding the EV, which requires that they weigh values by their likelihood.  This seemed to help.

Description of Case Materials This case consists of a set of rules for a game called ACE-FACE, decks of cards, and some explanatory materials.

Case Use This could fit in a 50-minute class after Giere Chapter 9 has been assigned. It works better in 75 minutes.  After a quick review of the structure of a decision matrix (with Rock-Scissors-Paper), groups are given the rule sheet and a deck of cards.  They must first create the decision matrix, calculate expected values, and indentify each of the three betting strategies.  Then they play the game to see how the strategies pay off.

Reference List none