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RolfAndreassen comments on A clever argument for buying lottery tickets - Less Wrong
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Ah, but now you are neglecting the additional value of having the million dollars now, instead of 5.5 years from now. At 4% interest this neatly cancels out the additional $220k.
I don't believe so, but maybe someone smarter than me can explain this. The magic 4% of a million = 40k value indeed should factor in, but it shouldn't dominate the expected value to the degree that you're making it.