Re: Do you think in Poker Terms?
[ QUOTE ]
I find myself thinking in Poker terms quite often. Especially +EV or -EV. For example, yesterday a friend got in a fender bender and I thought to myself That's -EV.
[/ QUOTE ]
An event that has already happened is not + or - EV. Once the accident has occured, the value is no longer expected and has actually been established.
A better/correct example of thinking of EV and cars would be deciding if you should pay for parking or risk getting a parking ticket. For example, if there is a 10% chance that you will get a $30 ticket, but parking at a particular self-service garage costs $5, you should not pre-pay. Risking the ticket is +EV. However, if you come back to the car and find a parking ticket, you can't say, "Man, that's -EV", just becuase the ticket will be expensive. (This is what you did with the fender.. and in fact, in poker terms, this is being results oriented, which is bad.)
And FYI, EV isn't a poker term. It's a pretty common math concept that just happens to be applicable to poker.
p.s. I'm a nit.
|