Ep 130: Steven Pinker’s ”Rationality” Ch 6 ”Risk and Reward” (Rational Choice & Expected Utility). Analysis.
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Why People Shouldn't Gamble
If the only consideration is money, then it's irrational to partake in that kind of activity. People actually have fun at casinos - even if they're losing money. Perhaps we gamble for the thrill, just as we buy insurance for the peace of mind. But this appeal to emotions just pushes the paradox up a level.
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