| ▲ | nikanj 5 days ago |
| Gambling seems like a rational choice, when all the ”traditional” rational choices just lead into a mountain of student debt, not being able to afford a home, and general failure to launch Summed up very nicely in https://oldcoinbad.com/p/long-degeneracy |
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| ▲ | revlsas 5 days ago | parent | next [-] |
| How could it possibly be the rational choice if the ev doing so is so ridiculously negative? Having student debt doesn't justify throwing away the rest of your residual income |
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| ▲ | toast0 5 days ago | parent | next [-] | | What's the ev for going to college once you factor in graduation rates? People that get two or three years of college debt and no diploma have a big hole to fill and a small shovel. Anyway, I think ev isn't the right tool to model gambling behavior; dollar utility isn't linear. It's more about a small spending for a large potential. But then you get into repeated small wagers and such. | | |
| ▲ | Aunche 4 days ago | parent | next [-] | | College graduates make over $1 million in their lifetime compared to high school graduates. > Anyway, I think ev isn't the right tool to model gambling behavior; dollar utility isn't linear. You're right. The more money you have, the less utility it gives you, which makes gambling for a windfall an even worse decision. Worse still if you include taxes. | | |
| ▲ | tonyedgecombe 4 days ago | parent | next [-] | | I always thought those numbers were dubious because you are mostly comparing people who are capable of getting a degree with those who aren’t. | |
| ▲ | toast0 4 days ago | parent | prev [-] | | What about college dropouts? |
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| ▲ | verteu 4 days ago | parent | prev | next [-] | | > What's the ev for going to college once you factor in graduation rates? Very positive (IRR ~9%). It's been studied extensively: https://openknowledge.worldbank.org/server/api/core/bitstrea... | |
| ▲ | jeffbee 5 days ago | parent | prev | next [-] | | If I borrow a lot of money to start a business and then don't start the business I would also be in the hole. So, don't do that? | |
| ▲ | Acrobatic_Road 5 days ago | parent | prev [-] | | you can always go back and finish later...that's what I'm doing. | | |
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| ▲ | nikanj 4 days ago | parent | prev [-] | | -If I don’t gamble, I’ll live my whole life as a poor serf -If I gamble and lose, the same wage cuck life awaits me -If I gamble and win, I may actually ascend and have the kind of life I aspire to |
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| ▲ | watwut 5 days ago | parent | prev [-] |
| Seeing gambling as rational choice is spectacular fail of logic. It is an emptional choice of action. |
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| ▲ | caditinpiscinam 4 days ago | parent [-] | | Was "emptional" intentional, or a typo? Apparently it's a real word. > From emption + -al Adjective (obsolete, rare) Capable of being purchased | | |
| ▲ | atom058 3 days ago | parent [-] | | I also did a double take on this one! New word discovery. Sharing the same root as e.g. 'Emporium' I would assume. |
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