Re: So Am I A NIt?
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honestly i think people generally might gamble more than you expect. there is that popular tv show... i forget what it is called but there are all the different suitcases with different amounts of money in them, and people get offered buyouts by some dude, and they have to decide whether to take the buyout or continue to gamble.
im always really surprised at these poor families who pass up on 100k to go for more, when they have a 1 in 4 (or whatever) shot of getting like $50.
i dunno, just sort of an anecdote, but either that show selects people that tend to be gamblers, or people are bigger gamblers than you would think.
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You're talking about Deal or No Deal. The banker is essentially making an offer on the specific suitcase you hold. 95% of the time the offer on the suitcase is lower than the expected value of the suitcase. People still take the money a good portion of the time, indicating they are risk averse. The few times the offer was better than the EV, the contestant took the money.
It is fair to say that the majority of the American public is much nittier than Sklansky.
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