Exactly. If someone has $1.1M, spending $0.1M on a 15% chance of $1M is a good deal. Someone who has $0.05M and has to go into debt to buy the 15% chance is very probably insane.
Exactly. If someone has $1.1M, spending $0.1M on a 15% chance of $1M is a good deal. Someone who has $0.05M and has to go into debt to buy the 15% chance is very probably insane.