Tilted Forum Project Discussion Community - View Single Post - Another of those crazy paradoxes (similar to Monty Hall problem)

wlcm · 12-19-2003, 01:57 AM

i think the idea in economics is that you have to decide whether the first cup contained sufficient money to your satifaction.

lets say you looked in a cup and say $10. if you think $10 is a good number, there is no reason to risk losing half of it.

If you think that $10 is a small number, then go ahead and switch for a chance at a higher amount.

sorta like saying. would you rather have $10 now or $20 later?
or would you rather have $1k now or $2k later? but, in this case replace later with "a .5 chance of getting double, or end up with half"

12-19-2003, 01:57 AM	#10 (permalink)
wlcm Tilted Location: Austin, TX	i think the idea in economics is that you have to decide whether the first cup contained sufficient money to your satifaction. lets say you looked in a cup and say $10. if you think $10 is a good number, there is no reason to risk losing half of it. If you think that $10 is a small number, then go ahead and switch for a chance at a higher amount. sorta like saying. would you rather have $10 now or $20 later? or would you rather have $1k now or $2k later? but, in this case replace later with "a .5 chance of getting double, or end up with half"