Bo102010 comments on Wits and Wagers - Less Wrong
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Comments (7)
I've played it and enjoyed it quite a bit. One interesting aspect was that you're penalized for guessing "too high," so you have to be careful.
Another is how you can manipulate peoples' biases - place your estimate at one point and then bet on someone else's. A perfectly rational player wouldn't fall for this, but some might think you wouldn't make a bad estimate for fear of looking ignorant.
I (an electrical engineer) played with an economist, two psychologists, and a musician. I was way behind until one question was for the speed of light in miles per second. I bet with high confidence, and all followed my bets, but the winnings were substantial.
I would recommend getting a good group of people to play it, and to change the rules around and see how they affect play. It's a good time.