With all of this said, are there any real life scenarios where we could benefit from the knowledge acquired from The Monty Hall Problem and hence similarly, from Simon’s Problem? Firstly, the Monty Hall Problem originated from a real show ‘Let’s Make a Deal’ and hence does or did have significance in the real world. We can also take the Monty Hall Problem as an extremely oversimplified example or real world problems that arise when people must make decisions based on uncertainties. Common examples of this arise in poker, stock market trading, corporate finance. What all these problems have in common is that once the ‘contestant’ receives new information (i.e. a door is opened, a new card is placed, a sudden fluctuation in market prices indicating
