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Lolcano Eruption posted:Serious discussion time. What would be the socioeconomic impact be if the winner were to give every US citizen one million dollars? You mean if the prize were 1.4 quadrillion dollars?
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Jan 11, 2016 23:21
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| # ¿ May 21, 2024 01:56 |
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EngineerSean posted:Your expected value math is off, it's still -EV to buy a ticket due to the odds of a split jackpot. It's still +FUNEV though to buy a ticket. Not to mention isn't the full prize only if you take the annuity, which a) isn't transferrable to my knowledge, and your chance of dying during receiving it isn't 0 b) because of the net present value concept of money, the money you get later on in the annuity is actually worth a lot less
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Jan 13, 2016 01:04
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Oh ok, I didn't know what the numbers looked like for lump vs annuity
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Jan 13, 2016 01:27
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I wonder what the Kelly number of tickets people should buy is for most people given the tiny amount of EV and huge variance. I imagine it's probably 0 for a lot of people. Or maybe it's exactly enough to get everyone down to some % of their total bankroll. I don't know how Kelly criterion works very well!
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Jan 13, 2016 05:59
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Sheep-Goats posted:I walked up to the counter today then the clerk looked at me and I started sweating and then I just yelled I FOLD and chucked my little ticket with the minmaxed number selection into the muck. same
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Jan 13, 2016 17:22
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| # ¿ May 21, 2024 01:56 |
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I definitely wouldn't take the annuity at their age, don't blame them
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Jan 16, 2016 22:32
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