Why do people guess? Statistically there's no benefit?

MITer94
Mon, 29 Sep 2014 21:07:10 +0000

Expected value can play around with your mind a bit.

For example, if you had the choice of taking $100,000 now or going for a 1/2 chance at $1,000,000, which would you choose? What if it was $100,000 now or a 1/2 chance at $280,000? $100,000 now or 1/2 chance at $201,000?