4 ms·
I mostly agree with your point, but not with the mathematics: Your formula gives you positive Expected Value but there are many situations that are +EV which y
by learnstats2 11y ago
I mostly agree with your point, but not with the mathematics:
Your formula gives you positive Expected Value but there are many situations that are +EV which you shouldn't choose to visit.
Even if the penalty was more than you were saving (or if the penalty hit nominally responsible individuals), even if the chance were fairly low, that could act as a significant deterrant to unethical practices.
Situation: "ooh should I talk to my actuary/lawyer/partner about this difficult unethical decision? Arg but that would leave a paper trail."
- fsk 11y agoOne example: Mark Zuckerberg cheating Eduardo Saverin out of his FaceBook shares. He realized that it was cheaper in the long-run to cheat him, because he knew that the eventual lawsuit settlement would be less than Eduardo Saverin would have gotten if he were treated fairly. Actually, if you talk about it with your lawyer, attorney-client privilege protects you. Just make sure you do it in person and aren't dumb enough to do it by E-Mail.
- lern_too_spel 11y agoAll legal advice communication with a lawyer is protected by attorney-client privilege, even emails. There is nothing stupid about emailing a lawyer.