Lottery’s the expected value is always lower than the prize of a ticket.
I mean, of course it is? Zero-effort sources of income kind of have to have a net negative expected value. Or else nobody would have any reason to do anything.
Now you could definitely argue that the low-odds of winning aren’t made entirely clear to the customers, but I know a lot of people pay their $2 a week just for the high of fantasizing about what it would be like to win.
I mean, of course it is? Zero-effort sources of income kind of have to have a net negative expected value. Or else nobody would have any reason to do anything.
Now you could definitely argue that the low-odds of winning aren’t made entirely clear to the customers, but I know a lot of people pay their $2 a week just for the high of fantasizing about what it would be like to win.