4 ms·

Would you pay differently for a lottery ticket that had a payout of 1MM if you had the chances of A) 1/2 B) 1/5 C) 1/50 D) 1/5000? The potential payout is unch

Would you pay differently for a lottery ticket that had a payout of 1MM if you had the chances of A) 1/2 B) 1/5 C) 1/50 D) 1/5000? The potential payout is unchanged, but the value of the ticket changes as it gets more likely to pay out.

foobarqux 13y ago
All I'm saying, which should be self-evident, is that a successful business can be a bad investment if the price is too high and a failing business can be a good investment if the price is low.
- hackula1 13y ago
  Agreed.