So Am I A NIt?
 

Perhaps by some people's standards. If you use the gambler's scale. But certainly not otherwise. Here are two questions:

All of the people in this country with a liquid bankroll between 100K and 10 mil are offered 7-5 on the flip of a fair coin. ONE TIME ONLY. There is NO DOUBT the flip is fair. Doubt is assumed not to be part of this problem, though in real life it would be.

A. How much do you think I would REALLY bet as a percentage of my bankroll?

B. What proportion of all 100K to 10 Mil Americans would bet a higher proportion of their bankroll (lets also elimate those with pressing expenses)?

Re: So Am I A NIt?
 

Bet a proportion "higher" than what ??

Re: So Am I A NIt?
 

[ QUOTE ]
Bet a proportion "higher" than what ??

[/ QUOTE ]

than DS obv

Re: So Am I A NIt?
 

higher than he would obv

Re: So Am I A NIt?
 

.... which would be what proportion, in your view ?

Re: So Am I A NIt?
 

If I had a 1mil BR I would bet like 150k at 7-5 good odds [img]/images/graemlins/smile.gif[/img]

Re: So Am I A NIt?
 

.... interesting to you perhaps, but that is not what DS asked.

Re: So Am I A NIt?
 

I think I would go with 5%.

a. I think you could go with a number around 5%

b. I bet most Americans would go with a lesser number

People are generally very risk averse.

Re: So Am I A NIt?
 

[ QUOTE ]
Perhaps by some people's standards. If you use the gambler's scale. But certainly not otherwise. Here are two questions:

All of the people in this country with a liquid bankroll between 100K and 10 mil are offered 7-5 on the flip of a fair coin. ONE TIME ONLY. There is NO DOUBT the flip is fair. Doubt is assumed not to be part of this problem, though in real life it would be.

A. How much do you think I would REALLY bet as a percentage of my bankroll?

B. What proportion of all 100K to 10 Mil Americans would bet a higher proportion of their bankroll (lets also elimate those with pressing expenses)?

[/ QUOTE ]

Most americans would not do this for a substantial amount of money, but only because of various irrational prejudices about gambling. Their other behavior shows that they are willing to take equivalent or larger risks in major life decisions/investments/etc.

Re: So Am I A NIt?
 

I'd guess you'd be in the 10-15% range which is what I'd do too and I think am a bit of nit, but that's not a bad thing. I like having money...

Having watched Deal or No Deal I'd think the majority of Americans has no concept of BR management and would bet 125% it that was an option. That's probably not a good sample though...