The secret to beating Russian Roulette!!

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No way! 5 to 1 odds for death or riches just isnt worth it.

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Do you realize how many lives you could save with fifty million? I think people here don't understand the amount of power fifty million will give you.

[KingMedicine]

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No way! 5 to 1 odds for death or riches just isnt worth it.

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Do you realize how many lives you could save with fifty million? I think people here don't understand the amount of power fifty million will give you.

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there are only about 4 lives in the world i care about enough to risk my own and they arent involved in this hypotheical.

[Stu Pidasso]

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Lets say you were offered the chance to play Russian Roulette for 50M if your not shot. (Only 1 try required)
The gun has 6 chambers, 1 bullet.

If you win your set for life, you could buy and do pretty much whatever you desire. If you lose your dead.
Would you accept?

I honestly would accept this offer.

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The 50 million would not make me that much more content with my life to justify accepting the risk.

Stu

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Do you realize how many lives you could save with fifty million? I think people here don't understand the amount of power fifty million will give you.

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So if I offered to donate $50 million to whatever charity you wanted if you'd kill yourself, you'd do it? That's very noble. Not many people would take that offer.

[Kaeser]

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Do you realize how many lives you could save with fifty million? I think people here don't understand the amount of power fifty million will give you.

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I think your highly overestimating the value people attach to the lives of others and seriously underestimating the value people attach to their own life.

I've got a money right now ,enough that I never have to work again, but I've been broke before and I can say it sure as hell isn't worth a 5-1 shot at death just to get rich.

[jman220]

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Is it because you think your life is worth more than 50 mill? Guess what? Its not.

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Utility my friend, Utility. I find far more utility in not having a 1 out of 6 chance of dying, then in having an EV of 42 million dollars. Some of us don't care enough about money for the utility of 42 million dollars to outweigh the negative utility of dying.

[CieloAzor]

Ah, but we'll all die eventually anyway. We're really only risking a measurable amount of time here. Funnily enough, the more time you have to risk, the more time you'll have to spend your 50 million dollars. As one who is utterly uninterested in a lifetime of labor and responsibility, and completely infatuated with the idea of total freedom, I would examine this offer rather seriously.

At 5 to 1, I'd seriously consider the prop, but probably would turn it down, mostly due to inertia. It's easier just to do nothing and let things go on as they are than to put my life in serious danger. At something like 99 to 1, I just couldn't pass it up. I'm not sure exactly where the line is drawn. 10 to 1? 20 to 1?

[Rev. Good Will]

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Is it because you think your life is worth more than 50 mill? Guess what? Its not.

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Utility my friend, Utility. I find far more utility in not having a 1 out of 6 chance of dying, then in having an EV of 42 million dollars. Some of us don't care enough about money for the utility of 42 million dollars to outweigh the negative utility of dying.

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erm, I think you forgot the other part of calculating the EV of this by the cost of your death.

50 mill*(5/6) - infinity*(1/6) = - infinity

worst wager ever

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erm, I think you forgot the other part of calculating the EV of this by the cost of your death.

50 mill*(5/6) - infinity*(1/6) = - infinity

worst wager ever

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This is the dumbest thing I have ever read.

So you would not do this with a gun that had 100,000 barrels and only one bullet and paid you a trillion dollars because:

1 trillion*(99,999/100,000) - infinity*(1/100,000) = - infinity

[Kaeser]

I think it's wrong to place death as -infinity in your equation. You should instead take the persons estimated value of their life into consideration.