If any order is equally likely to come from any of twenty traders, a buy order puts the posterior at 21/40 and forces an honest ask five cents above a mid of zero, so the spread is 2/N whatever the crowd's size. Each of the nineteen uninformed traders then loses exactly five cents a trade, which sums to the insider's 95 cents because (N-1)/N and 1 - 1/N are the same number. Volume falling is a comparative static on top of that spread rather than a theorem of the model, and naming the insider would have repaired the market instead of breaking it, since a known informed trader can simply be refused.
Coins have no memory, which is true, and nobody said this coin is fair, which is the whole problem. A fair coin explains the run with probability two to the minus one hundred while a two-headed coin explains it every time. The article locates the threshold exactly and reconciles the answer with the companion piece on ten heads, which asks a different question about a different setup.
Que queden dos puertas no significa que sean dos puertas iguales: tu primera elección quedó congelada en 1/3 y los otros 2/3 se acumularon en la única puerta aún cerrada. El número no habla de las puertas, habla del presentador. Deja que abra al azar, que enseñe la misma cabra, y cambiar solo vale 1/2.
Six slots in a ring, two of them marked side by side. You land on a blank one and get one move: step forward, or draw a fresh slot at random. Both look like two in six. Stepping is one in four, drawing again is one in three, and the whole gap comes from the fact that the two marks are touching. Pull them apart and the advice reverses.
Una enfermedad que tiene una persona de cada doscientas, y una prueba sin ningún falso negativo. La respuesta refleja ante un positivo supera el noventa por ciento, y se equivoca por más de un factor de diez. Una multitud de mil personas lo enseña antes que el álgebra, y Bayes fija la cifra exacta en 100/1493.