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by BobNeumann
5275 days ago
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I agree completely with a minor tweak:
"Would you RISK $900 for a 90% chance to win $1000?"
"Would you RISK $100 for a 10% chance to win $1000?" It's all about managing the risk: generally speaking, I can afford to risk $100, but not $900. Furthermore, I've already spent/borrowed the second $1000 (We're TAKING my existing money, which I presumably have already planned on having). So the first is a windfall, but the second is a real need. So I WON'T risk a large amount of money for a windfall, but I WILL risk a small amount in order to meet a real need. I'd say that's 100% rational. Bob |
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