Deal or no deal

You just knew 'Deal or No Deal' was amenable for the study of rational economic decision-making. Here is a write-up and links to some new studies of the game show.

Here is a link to an on-line version of the game. Of course, it isn't really what happens as it seems to me there is a strategic player playing the role of the 'bank.' Their payoff function will take into account the observed risk profile of the contestant as well as maximising the watchability of the show. It would be interesting to think of what strategies that 'bank' might employ.