Is there any sensible way of deciding how much to put into an option that has a positive expected value, but very low chance of payoff?
People here have been known to buy life insurance and sign it over to an enterprise promising just that.
Yes, but in that case you get a single take-it-or-leave-it offer. With a lottery you can buy up to the limits of your current cash reserves.
People here have been known to buy life insurance and sign it over to an enterprise promising just that.
Yes, but in that case you get a single take-it-or-leave-it offer. With a lottery you can buy up to the limits of your current cash reserves.