More interesting coinflip

[IronDragon1]

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The higher up you go the less value each individual dollar has.

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This is, by and large, true but the issue is that-in this case marginial utility of income is unchanged.

[xorbie]

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Seriously though, the best way to do this is to have some corp or rich person buy the results of your coinflip from you. They get to buy into a +50 eV play for +25 and you get +25x your net worth guaranteed. You could probably negotiate a better deal for yourself than that even. Maybe +45.

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you could even do this more than once.... once you make the sale your net worth is even higher, you can make a better sale to someone else, etc.

let's just assume you can't do that.

[daryn]

more interesting: what is the cutoff in your mind where it goes from being worth risking it on a coinflip, and not?

for me i think $250,000 i would definitely flip the coin... i'm not sure about more than that

[Stuey]

I tell rich guy to take hike I'm happy with the amount of stuff I gots. Why is it always rich guys that want to play these games? I would play with a homeless guy though 50/50 if I lose he gets all my stuff if I win he gets the coin. This way just like the rich guy I get a chance at feeling superior to my fellow man. That is what it is all about right? [img]/images/graemlins/smile.gif[/img]

[IggyWH]

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Ev is not relevant here. Personal utility is.

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Not trying to get too deep here, but we're talking purely material, so I don't think personal utility comes into play here.

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I think you are missing his point.

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I understood his point, but you can't talk about personal utility when we're just talking purely money here. There is so much more to personal utility than just the bottom line. That's getting too deep for this simple question, as I understand it to be just a simple question from the very first poll about a coinflip.

[coolandtough]

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Ev is not relevant here. Personal utility is.

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Not trying to get too deep here, but we're talking purely material, so I don't think personal utility comes into play here.

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so microeconomics doesn't have anything to do with material possessions?

[IggyWH]

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Ev is not relevant here. Personal utility is.

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Not trying to get too deep here, but we're talking purely material, so I don't think personal utility comes into play here.

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so microeconomics doesn't have anything to do with material possessions?

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It does, but it gets deeper than just a bottom line. If you have a family in which you are depended on finacially, your family would influence the answer due to personal utility. Would your happiness of increasing your overall worth be worth the risk of devistating (and most likely losing) your family if you lose.

My understanding of the coin toss threads/polls originally never got that deep.

[Shajen]

when I get done saving, investing, and scrimping my way to millions, I'm so gonna do this.

Just hit up some random campus somewhere in the US and hook some college kid up.

[Peter Harris]

i'm about $28k in debt following uni, so does that debt get doubled if i use the die :P

seriously though, i'm with the coin till i'm about 30, then i'd probably switch to the die.

[eviljeff]

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for me i think $250,000 i would definitely flip the coin

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250K = risk or reward?