[seoaeu]

Even worse, the experimenters didn't actually provide real coins. They just sent around links to a website that they said was simulating a biased coin. Participants presumably had no actual way to know whether the flips were actually 60% biased towards heads, whether the results were truly independent from one flip to the next, or even whether their bet might impact the outcome.

[dragonwriter]

All those sources of uncertainty of the actual probabilities are, while in some cases not typical of a real coin (although uncertainty about actual bias one has been informed of certainly is), fairly typical all of real-world situations in which people face, so I’m not at all certain that that invalidates any application of the results to real-world situations.