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Old 08-02-2012, 11:00 AM   #16
Juges8932
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Default Re: Would you rather...

Option #1. Life isn't all about money. Of course I want to try and make as much money as I can, but while still living life the way I want to. No amount of money is worth the risk of going to jail for the rest of your life. It is tempting however, because 85% is a pretty good chance, but that somebody always has to make up that 15%! lol
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Old 08-02-2012, 11:24 AM   #17
SilkkTheShocker
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Default Re: Would you rather...

Is prison anything like that show Oz? Watching that show really makes you think twice about prison. Even if it came off as unrealistic at times
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Old 08-02-2012, 11:26 AM   #18
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Default Re: Would you rather...

Quote:
Originally Posted by Meticode
It's not a $150 million, it's $150 thousand.

M is thousand, sorry. I'm in work mode. an M is thousand, MM is million (thousand X thousand)
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Old 08-02-2012, 11:34 AM   #19
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Quote:
Originally Posted by WockaVodka
#1, no risk and a decent reward.

I'm with you on this. My mortgage on my NZ property would be done with. On to becoming an international property tycoon!
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Old 08-02-2012, 12:51 PM   #20
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Quote:
Originally Posted by The Macho Man
And a billion dollars isn't "just money". It's your life is now incredible.

For jail probability, go ahead and assume you're the Cavaliers, and if you get the number 1 pick you're going to prison. Any other team wins, and you get 1 billion.
http://espn.go.com/nba/lottery2012/mockdraft

I played once and lost. Going to prison for life!
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Old 08-02-2012, 01:35 PM   #21
MJ(Mean John)
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Default Re: Would you rather...

IF nobody ever saw this thread and I created a thread that offered the 150 thou.
And the 1 billion with a 15% of not getting the money, a lot more people would chose that.

The power of perception.


Macho man, hey asshole. According to my Econ professor in high school, he said there was quite a few banks offering high interest rates online.
That's what he said. I obviously, don't see why he would make up that story.
He said they even offered 10% if you had enough money (he's talking million)
This was 4 years ago
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Old 08-02-2012, 01:43 PM   #22
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Default Re: Would you rather...

Quote:
Originally Posted by TheeBeast
Option 2, easily.

If I end up in prison, I'll plead innocent and within a few months I'll be out...

I don't think you understand how the criminal justice system works.


I'd go with option 1. That's still a good amount of money, and if a person isn't stupid, he/she (or in my case, I) could make it grow. Start up a business; watch the money pile up. Sure, you'll never hit a billi, but it could be milli's before you know it.
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Old 08-02-2012, 03:10 PM   #23
TylerOO
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Default Re: Would you rather...

option 2 easy. If I win my whole family could be rich and then I could buy Mila Kunis. If I lose I kill myself
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Old 08-02-2012, 03:14 PM   #24
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Default Re: Would you rather...

Quote:
Originally Posted by Myth
My life is pretty good as it is, so $150,000 is bonus. Pays off most of my debt and I'll have a good job without loans.

$1B would be nice, but not worth potentially prison for life.

I disagree. 85% is enough for me to take the risk. 150k would be nice but Id have to roll the dice. I can do a lot of good for a lot of people with 1 billion dollars.
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Old 08-02-2012, 03:22 PM   #25
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Default Re: Would you rather...

EV1 = 1.0 * 150,000 = $150K
EV2 = (0.85 * 1,000,000,000) - (0.15 * X) where X will be my quantified cost of going to prison. If that's higher than $5.665 billion, I take option #1. I probably won't earn $5 billion over my lifetime, so the opportunity cost of going to prison is probably a lot less than that.

I guess I'd gamble with #2.
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Old 08-02-2012, 03:32 PM   #26
IGOTGAME
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Default Re: Would you rather...

Quote:
Originally Posted by REACTION
EV1 = 1.0 * 150,000 = $150K
EV2 = (0.85 * 1,000,000,000) - (0.15 * X) where X will be my quantified cost of going to prison. If that's higher than $5.665 billion, I take option #1. I probably won't earn $5 billion over my lifetime, so the opportunity cost of going to prison is probably a lot less than that.

I guess I'd gamble with #2.

yea, because getting raped in prison doesn't factor into opportunity cost?
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Old 08-02-2012, 03:36 PM   #27
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Quote:
Originally Posted by IGOTGAME
yea, because getting raped in prison doesn't factor into opportunity cost?

Wouldn't happen to me.
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Old 08-02-2012, 03:40 PM   #28
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Default Re: Would you rather...

Well my life is already good, good enough to the point that an extra $100,000 doesn't make that big of a difference. I wouldn't go with either option. If I had to choose, I'd just go with the $150,000 anyways. Don't really care about being billionaire, just enjoy life.

An 85% chance to get 1 billion? That's pretty good. Think about it as Kobe or Chris Paul making a free throw. Would you bet your life on them making 1 free throw? I would. Let's say if my life were miserable, I'm racking up tons of student debt and I'm working my ass off just to make ends meet. In that case, I'd easily go with Option B. 85% is a great chance. And if I somehow don't win and go to prison, I would just commit suicide. Simple.
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Old 08-02-2012, 03:51 PM   #29
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Default Re: Would you rather...

Quote:
Originally Posted by REACTION
Wouldn't happen to me.


Are you going to tape your a.ss shut?
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Old 08-02-2012, 03:53 PM   #30
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Default Re: Would you rather...

Very tough choice. 85% is a HUGE chance, but losing and going to prison for life is too big of a risk. I think I'd play it safe and go with the no risk 150K. It would be a tougher decision though if I was actually given this choice with 1 billions dollars in front of me.
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