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Veritasium - Would you take this bet?

Veritasium - Would you take this bet?

(7:19) How much would it take for you to risk $10? This episode is based on Daniel Kahneman's 'Thinking, Fast and Slow', available from: Amazon.co.uk and Amazon.com

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Guest: (1016 days ago)

fu*k off you capitalist pig!!

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fu*k off you capitalist pig!!

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Guest: (1015 days ago)

Regardless of how much he offers, the odds of winning and losing are the same. 50-50.

I don't agree with the sentiment that more rich people would bet than poor people, based on how investors treat their money. The deciding factor is return, so offering a rich person 11 dollars return on 10 dollars risk will not have many people interested. It all boils down to 'return', not investment price. Besides, none of the people in the video looked poor to me.

Here is the simple logic most people will use. If I don't bet I am 100% sure I will have 10 dollars tomorrow. If I bet I am only 50% sure that I will have 10 dollars tomorrow.

Funnily enough, I wonder how many people who didn't bet, would happily give away 10 dollars to charity. I bet a lot. The 'return' in this instance is helping another person, and not seeing the potential gain that a self obsorbed, opportunistic person would see.

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Original comment

Regardless of how much he offers, the odds of winning and losing are the same. 50-50.

I don't agree with the sentiment that more rich people would bet than poor people, based on how investors treat their money. The deciding factor is return, so offering a rich person 11 dollars return on 10 dollars risk will not have many people interested. It all boils down to 'return', not investment price. Besides, none of the people in the video looked poor to me.

Here is the simple logic most people will use. If I don't bet I am 100% sure I will have 10 dollars tomorrow. If I bet I am only 50% sure that I will have 10 dollars tomorrow.

Funnily enough, I wonder how many people who didn't bet, would happily give away 10 dollars to charity. I bet a lot. The 'return' in this instance is helping another person, and not seeing the potential gain that a self obsorbed, opportunistic person would see.

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cengland0 cengland0 (1015 days ago)

The odds of winning and losing are the same but the value of them are different.

If he said I would give you $100 million if you win and it would only cost you $10 to enter for a 50/50 chance, you would be foolish to not take that deal. Yes you could lose $10 but what you have to gain could be life changing.

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The odds of winning and losing are the same but the value of them are different.

If he said I would give you $100 million if you win and it would only cost you $10 to enter for a 50/50 chance, you would be foolish to not take that deal. Yes you could lose $10 but what you have to gain could be life changing.

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WalterEgo WalterEgo (1015 days ago)

An ordinary person might have chosen $1000, maybe even $1 million. You, on the other hand, chose $100 million.

Just shows how easy it is for the superrich to be totally out of touch with the rest of society.

It wouldn't matter if power was in the hands of the people.

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An ordinary person might have chosen $1000, maybe even $1 million. You, on the other hand, chose $100 million.

Just shows how easy it is for the superrich to be totally out of touch with the rest of society.

It wouldn't matter if power was in the hands of the people.

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cengland0 cengland0 (1015 days ago)
Latest comment:

I'm not super rich. I just have enough funds to retire now (actually several years ago) if I wish. Mrs. cengland0 just retired November 30 but I have no plans to retire ever — unless I get hurt and cannot work.

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Latest comment:

I'm not super rich. I just have enough funds to retire now (actually several years ago) if I wish. Mrs. cengland0 just retired November 30 but I have no plans to retire ever — unless I get hurt and cannot work.

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Guest: (1016 days ago)

I would take his fukin arm off with that 2/1 shot, not to mention what I would do regarding that 100 chances ballix.. Win all the way. How these people didn't twig this..? Must have been from the Uhh - ess - ehh!!!? ....fist pump.

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I would take his fukin arm off with that 2/1 shot, not to mention what I would do regarding that 100 chances ballix.. Win all the way. How these people didn't twig this..? Must have been from the Uhh - ess - ehh!!!? ....fist pump.

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cengland0 cengland0 (1016 days ago)

Wonder if the number of people takng the bet would have been different if it was in a country besides Australia Or if there was a class difference. For example, a rich person might take that bet more than a poor person because $10 loss to that rich person is not as impacting.

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Wonder if the number of people takng the bet would have been different if it was in a country besides Australia Or if there was a class difference. For example, a rich person might take that bet more than a poor person because $10 loss to that rich person is not as impacting.

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