All of nicknicknicknick's Comments + Replies

actually... I don't agree with this example as being a good example of intuition failing. the problem is people think about this scenario as if it were real life. in real life there would be a delayed payout. in the case of a delayed payout on their "ticket" the ticket with 100% certainty is more LIQUID than the ticket with the better expectation. liquidity itself has utility. maybe the liquidity of the certain payoff is only due to the rest of society being dumb; however even if that is the case if you know the rest of society is dumb you m... (read more)

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