I have some reservations about $20000 being the cutoff, but I’m willing to accept that for now to see the math; also, I believe in geometric progressions, so I suspect the cutoff doesn’t matter too much.
If you remove the cutoff, then Neville will not accept 50-50 odds of losing $1500 or winning any amount of money.
What I meant is, I believe that there’s a cutoff, but I’m not sure $20000 is the right value, for me. As I said, I don’t think the value of the cutoff is terribly important.
If you remove the cutoff, then Neville will not accept 50-50 odds of losing $1500 or winning any amount of money.
What I meant is, I believe that there’s a cutoff, but I’m not sure $20000 is the right value, for me. As I said, I don’t think the value of the cutoff is terribly important.