Risk

[Kuciwalker]

Was that supposed to make sense?

[Al B. Sure!]

So Kuci you live with mommy and daddy so you can save on rent? Nice job entering the real world

Do you even buy your own groceries or do your own laundry? Jesus. Mom makes dinner for you every night?

[Kuciwalker]

The fact that you view saving money as contemptible explains a hell of a lot about your situation...

[Al B. Sure!]

I view a 21 year old adult living with his parents contemptible. Grow the hell up, rich boy

[Kuciwalker]

See, that's exactly what I just said. You think growing up means spending ten thousand dollars on something I don't need.

[Al B. Sure!]

Stay in the nest, little chick. It's safe and warm. You know you can't handle that cold world outside.

[Kuciwalker]

Says the man with no job and, apparently, no hope of finding one.

Also the man who can't speak to the opposite sex for more than five minutes without scaring them away.

[Al B. Sure!]

And yet I have 9 years of experience on my own and you have...? funny that I'm the loser.

[Kuciwalker]

Yes, 9 years experience at being an abject failure is what makes you a loser.

[Wiglaf]

I'm not sure what the appeal of doing your own laundry or cooking your own dinner is, but I can understand paying $10,000 a year for the ability to bang women and actually would vote to legalize it if more people came to their senses. Did you ever notice how all CVS self-checkouts have female voices? Why not criminalize that too, if we really care about degrading women.

I AM AWARE OF ECONOMIC EXPERIMENTS LIKE THIS. MOST PEOPLE ARE IRRATIONALLY RISK AVERSE AND WANT TO PROTECT WHAT THEY HAVE, HENCE THE SUCCESS OF BEST BUY PROTECTION PLANS/AFLAC, BUT I DON'T CARE $75, $40,000, and $200,000 :

[Kuciwalker]

Wiglaf

[OneFootInTheGrave]

I'd pay $10 for each, the only reason why not $1 (minimum for participation) is because I am generous

[Jon Miller]

Bidding the full 50% in the third scenario can only cost you ~800$ a month.

That would be quite painful, but not ruinous for most people.

It is still a huge constraint on future behavior. And I am not at all sure about not ruinous for most people, although most people do manage to survive with child support payments/alimony/etc expenses which can be quite high.

1) $45 (and honestly, if friends were doing it for fun I might go over 50$... I have gone gambling before. But I would consider the extra as the expense of 'fun').
2) $~10k
3) $~30k

[MikeH]

$49.95
$5k
$25k

It am basing that on my current financial position and what I know I can actually afford to lose or pay in extra debt over the next couple of years. We have a decent income but most of that is allocated for the next few years. We have a pretty comfortable lifestyle at the moment and in the upper two scenarios the reward in terms of the lifestyle benefits from the win is not worth the 50% risk of the massive lifestyle compromises we'd have to pay to service the debt if we lost. Not to mention the stress of having to count pennies again. Winning $250k wouldn't make us that much happier, but losing $125 would definitely make us much less happy. So it's not worth the gamble.

If I was very wealthy my answers would be closer to neutral on all values.

[Jon Miller]

That is what I was thinking too, MikeH. Losing 115k would make me a lot more unhappy than gaining 250k would make me happy.

JM