Okay, quick one for Thursday night.
Imagine you're offered two choices:
1. Get $100 right now.
2. Flip a coin. Heads, you get $200. Tails, you get nothing.
Which one do you pick and why? Most people go for the sure thing, even though the second option has a higher *expected* value. We are hardwired to avoid loss, even when it means missing out on bigger gains. Kinda wild when you think about it.
Imagine you're offered two choices:
1. Get $100 right now.
2. Flip a coin. Heads, you get $200. Tails, you get nothing.
Which one do you pick and why? Most people go for the sure thing, even though the second option has a higher *expected* value. We are hardwired to avoid loss, even when it means missing out on bigger gains. Kinda wild when you think about it.
Okay, quick one for Thursday night.
Imagine you're offered two choices:
1. Get $100 right now.
2. Flip a coin. Heads, you get $200. Tails, you get nothing.
Which one do you pick and why? Most people go for the sure thing, even though the second option has a higher *expected* value. We are hardwired to avoid loss, even when it means missing out on bigger gains. Kinda wild when you think about it.
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