Comments by "Mat Broomfield" (@matbroomfield) on "Would You Take This Bet?" video.

  1. It's not simply about risk, but about a bird in the hand. For many people, no matter how high the potential gain at 50/50 odds, on a single toss, the fact is, you sacrifice money with a known usefulness to you, for Schrödinger's money that may or may not have utilty to you in the future. To see this more clearly, consider that you are starving, and you are gambling a single small meal you have against two meals. It's not just about POTENTIAL gain, but the significance of the loss.
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  2. 18aidanme Not greedy - it wasn't about greed, it was about the point at which the potential loss becomes acceptable compared to the gain. And even with 100  tries, there is still a CHANCE, that you could lose them all, no matter how tiny, which of course is the whole point of this video. People are more risk averse than gain focussed. Probably because we are all rightly taught to suspect the con.
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  3. Calico Jack Exactly, and the whole point is, the greater the cost in losing, regardless of the benefits, the greater the incentive there is to avoid the risk.
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