Use Game Theory to “win” the White Elephant Gift Exchange
Holidays are all about getting the coolest gifts – and I think giving them too. But if you want the best item on the White Elephant Gift Exchange, use this strategy.
The White Elephant, or the Yankee Swap as some call it in one episode of The Office , is a gift game that people play on the holidays. Each person brings a gift, which is usually limited to a certain dollar amount, and each person chooses a random number to determine the order of the game. Whoever opens the gift of their choice first. Then each subsequent player can open a new gift or steal an already opened one. If your gift is stolen, you can reopen the gift or steal another gift. Using game theory, Ben Kasselman of FiveThirtyEight found the best way to “win” the white bishop in three steps:
- When opening each gift, mentally assign a value to it (for example, in dollars or in a rating from 1 to 5);
- When it’s your turn, average the value of all open gifts (regardless of whether they are available for theft);
- If there is a gift that can be stolen, “worth” at least average, steal it! Otherwise, open the gift. (Depending on the rules you play by, not every gift can be stolen.)
Of course, the catch here is that no one really wins at White Elephant, because all gifts are usually gifts or things that people bring from home. However, this devious strategy can help you get the least awful thing. Happy Holidays.
The Ultimate Guide to Swapping White Elephant Gifts Using Game Theory | Five thirty eight