Which would you choose?
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wrote on 18 Aug 2022, 17:12 last edited by
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wrote on 18 Aug 2022, 17:13 last edited by
I’d definitely go 50% on 50MM.
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wrote on 18 Aug 2022, 17:21 last edited by
Imagine the social destruction that would be wrought if aliens came down and made this game a reality. The previously poor people who then proceed to lose the bet for 50 million would revolt. But then we’d pass legislation to allow them to partake. But economically if half the people have 50 million, then you’re still poor at 1 million and only above average at 50 million.
But I guess that’s not the point of the exercise. How would you decide if you were the only one given the choice? Rational people would choose whichever would make the most meaningful improvement in their lives. If I was poor with no prospects, maybe I’d take the million. But probably not. I bet a large majority would take the possible 50 million.
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wrote on 18 Aug 2022, 17:26 last edited by
$50 million
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Imagine the social destruction that would be wrought if aliens came down and made this game a reality. The previously poor people who then proceed to lose the bet for 50 million would revolt. But then we’d pass legislation to allow them to partake. But economically if half the people have 50 million, then you’re still poor at 1 million and only above average at 50 million.
But I guess that’s not the point of the exercise. How would you decide if you were the only one given the choice? Rational people would choose whichever would make the most meaningful improvement in their lives. If I was poor with no prospects, maybe I’d take the million. But probably not. I bet a large majority would take the possible 50 million.
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wrote on 18 Aug 2022, 17:28 last edited by
Wow, great question!
I think I'd go with 50% chance of 50MM. With the instant million, I'd lose over half to the IRS anyway, which would have the irrational and unreasonable effect of taking a lot of the fun out of it, and with the 50% chance, if I lost I wouldn't be any worse off.
And if I won I could buy the car vac!
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wrote on 18 Aug 2022, 17:35 last edited by
This is basically just a clever variation of "how much money do you have."
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wrote on 18 Aug 2022, 17:35 last edited by
I'd go for the $50 million.
And if I won I'd give it to you guys.
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This is basically just a clever variation of "how much money do you have."
wrote on 18 Aug 2022, 17:39 last edited by@Aqua-Letifer said in Which would you choose?:
This is basically just a clever variation of "how much money do you have."
True, although a bit more generic, I took it as a "are you comfortable enough now to not have the million?" for me, yes...but I'm also still working. If I won the $50MM I would retire immediately, play golf each day, post on TNCR... wait, @Copper you're living the dream!
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@Aqua-Letifer said in Which would you choose?:
This is basically just a clever variation of "how much money do you have."
True, although a bit more generic, I took it as a "are you comfortable enough now to not have the million?" for me, yes...but I'm also still working. If I won the $50MM I would retire immediately, play golf each day, post on TNCR... wait, @Copper you're living the dream!
wrote on 18 Aug 2022, 17:43 last edited by@89th said in Which would you choose?:
, @Copper you're living the dream!
I played yesterday
I played today - 3 birdies!
I'll play tomorrow
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wrote on 18 Aug 2022, 17:44 last edited by
Wow, 3 birdies...that's impressive. Usually one in a round makes the whole day worth it.
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wrote on 18 Aug 2022, 17:45 last edited by
You can use this to see if your $50MM bet was worth it. For me? I lost.
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wrote on 18 Aug 2022, 18:17 last edited by
$1M.
There's a reason guys date ugly girls.
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wrote on 18 Aug 2022, 18:32 last edited by Mik
In my case, the 50. If I asked MFR, she’d say one. So, one it is.
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wrote on 18 Aug 2022, 18:37 last edited by
I would go for the $50 Million, but I'd sell @jon-nyc the opportunity to go in half for a mere $500K...
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wrote on 18 Aug 2022, 18:52 last edited by
@Mik said in Which would you choose?:
In my case, the 50. If I asked MFR, she’d say one. So, one it is.
LOL my wife also said "you know what my answer would be", she does not like risk.
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wrote on 18 Aug 2022, 18:54 last edited by
The only reason I'm able to handle my money as I do, is that my wife is content to remain blissfully unaware of my stock market shenanigans.
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This is basically just a clever variation of "how much money do you have."
wrote on 18 Aug 2022, 19:40 last edited by@Aqua-Letifer said in Which would you choose?:
This is basically just a clever variation of "how much money do you have."
Yep.
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wrote on 18 Aug 2022, 22:04 last edited by
Suppose we change the choices to:
“Instant $1 Billion” vs. “50% chance to get $50 Billion”
What will it be?
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Suppose we change the choices to:
“Instant $1 Billion” vs. “50% chance to get $50 Billion”
What will it be?