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Stuart_Armstrong comments on Risk aversion does not explain people's betting behaviours - Less Wrong
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If you remove the cutoff, then Neville will not accept 50-50 odds of losing $1500 or winning any amount of money.
What I meant is, I believe that there's a cutoff, but I'm not sure $20000 is the right value, for me. As I said, I don't think the value of the cutoff is terribly important.