2 ms·

If we're valuing a thing that will turn out to be $0 with 99% certainty, or $1M with 1% certainty, then "a hundred bucks" is not a good proposal. 1% of $1M and

by maratc 4y ago

If we're valuing a thing that will turn out to be $0 with 99% certainty, or $1M with 1% certainty, then "a hundred bucks" is not a good proposal. 1% of $1M and there might be something to talk about.

akavi 4y ago
If they perceive that 1% chance of 1 M$ as having nonzero value, then they're not "valu[ing] it at 0 $"
- maratc 4y ago
  Maybe these people just don't know how to properly calculate the expected value?..