With the assumption that each Monopoly player who goes to Jail stays until he or she rolls doubles or has spent three turns in Jail, the steady-state probability of a player landing on any Monopoly square has been determined by Ash and Bishop (1972) (see Table 3).†

These steady-state probabilities can be used to measure the cost-effectiveness of various monopolies. For example, it costs $1,500 to build hotels on the Orange monopoly. Each time a player lands on a Tennessee Ave. or a St. James Place hotel, the owner of the monopoly receives $950, and each time a player lands on a New York Ave. hotel, the owner