Utility of Money vs Utility of Income

[DavidC]

Utility of Money:
-I'm saving for a car.
-Between now and buying the car, my money is of minimal use.
-If someone were to hand me a few tires tomorrow, or a steering wheel, that wouldn't really make me want to have a party... I'd just patiently store it away and wait til I had all the parts for my car.
-Therefore, my marginal utility of money is low.

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However, I have a problem when it comes to gambling... I like winning on a hourly basis, or at most a per-session or daily basis. I can stretch it out to a week or so before I start to get upset if I'm losing.

Like most poker players, I plow through it, but I don't like it.

Therefore, even though my utility of money is small, my "utility of daily or weekly income" is quite large.

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Two questions:

1) Is there any way I can squash this basic human instinct/need out of my life? [img]/images/graemlins/smile.gif[/img]
2) Would it be healthy to do that?
3) If it weren't, would it actually be wise (in a sense of maximizing utility, not maximizing EV) to give up EV in an effort to reduce variance whne I'm running well or I'm in danger of running bad?

(Yeah, that's three, oh well.)

--Dave.