The Expected Value Curve Is Not Like Linear, Right?

Eric Liu: I think there's a very good case to be made that like it's worth buying a lottery ticket just for the entertainment if it's $2. But even the expected value argument is sort of a folly because it makes two assumptions, he says. Liu: The downside is totally asymmetric to the upside that you get from playing lotteries. He thinks these things should be illegal as they're extractive to the constituency and society as a whole.

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