3 ms·
You're right, but my point is that it's not rational to act against your interests, even if you think you're acting for them. Thinking it's worth it to play the
by cynicalkane 16y ago
You're right, but my point is that it's not rational to act against your interests, even if you think you're acting for them. Thinking it's worth it to play the lottery is almost certainly irrational except for individuals with a very strange utility curve...
- nostrademons 16y agoThe utility curve doesn't have to be all that strange - it just has to be a step function, where $1 yields no additional increase in utility yet $2.5M yields an additional increase. There is pretty significant evidence that people's utility functions are in fact step functions - how many folks will just dump change into a tipjar, or refrain from picking up coins on the sidewalk?