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barrkel comments on Misleading the witness - Less Wrong
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I agree with Vladimir Golovin. I definitely think this way - I can think immediately of how useful $500 would be to me, but cannot think of many ways to use a 15% chance of $1M.
Well, I can think of one way - I would take the 15% chance of $1M and then sell it to one of you suckers for $100,000.
Exactly. If someone has $1.1M, spending $0.1M on a 15% chance of $1M is a good deal. Someone who has $0.05M and has to go into debt to buy the 15% chance is very probably insane.