Re:Finally, Private Unemployment Insurance. But Will Anyone ...
by IanCal on Saturday May 28, 2016 @01:30AM
(#11790697)
It's perfectly possible the bet is good for both sides, just as it is possible the bet is bad for both sides.
You are equating money with utility.
A 1 in 1000 bet that I'll get 1001 times my money back if I play with my life's savings is a terrible terrible bet for me to make even though it has a positive average return. It's also a bad bet for the bookies because they will lose on average.
The larger the cost the more likely it'll be worth taking out insurance.
You are equating money with utility.
A 1 in 1000 bet that I'll get 1001 times my money back if I play with my life's savings is a terrible terrible bet for me to make even though it has a positive average return. It's also a bad bet for the bookies because they will lose on average.
The larger the cost the more likely it'll be worth taking out insurance.