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Ep 130: Steven Pinker’s ”Rationality” Ch 6 ”Risk and Reward” (Rational Choice & Expected Utility). Analysis.

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Is It a Good Idea to Pick the Power Ball Ticket?

In real life, no one's really making his decision. There's no such thing as a 100 % chance of winning a million dollars. If you're not picking the one with the highest uti than, on some account, your being irrational. But againi'm over emphasizing it. I suppose this has no analogue in real life decision making. It applies specifically to this situation, which itself doesn't arise in real life. And that he goes through many, many more examples with different percentage chances of winning different amounts of money. What would you choose in these different situations? The answer was not necessarily irrational. Some skipping almost all of that.

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