Re: DEAL or NO DEAL (TV Game Show) How Decide?
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Imagine the scenario where you are given 5 million dollars, and you are offered a coin flip to either win 20 million or lose the 5 million. If you were Bill Gates, 50% chance to lose 5 million isn't such a huge deal to you. But if you are a Single mother with 10 kids on welfare...50% chance to lose 5 million is a huge risk. And keeping the 5 ensures you a happy life and the ability to care for your children, while increasing it to 20 million would only be marginally better...certainly not worth a 50% probability of losing everything.
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As an aside, I think the billionaire of choice for such analogies should always be Kerry Packer, notwithstanding his death two years ago.
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