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orangebot comments on When is it ever rational to enter a sweepstakes where you may have a 1/10,000 chance of winning? - Less Wrong Discussion
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Comments (15)
Indeed, you are correct.
In my finance education, professors always argued that your money curve should be as close to 1:1 with your utility curve as possible. Granted, that's a dubious setting. Probably correct for money managers, but not for humans in daily life.