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#14
07-13-2005, 07:12 AM
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Re: The lottery, The odds, and You
[ QUOTE ]
what do you mean by +CE? I have never heard this term before and am unsure of its exact meaning. [/ QUOTE ] A flat fee that you would take in exchange for the gamble -- basically the price you'd be willing to pay for the ticket. In case of a lottery with an e.g. $20 mil jackpot, CE is going to be (should be) much smaller than EV when you have any kind of risk aversion. 
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