Why does everything have to be some kind "porn" nowadays. Does anybody seriously think this is funny?
No More “Insight Porn”
321–323 of 323 posts
Re: No More “Insight Porn”
#322Re: No More “Insight Porn”
#323Earlier quoted context omitted.
Well, one extreme example is buying lottery tickets; it's the best way to expose yourself to the potential upside of winning the lottery, yet the expected value is quite negative. That example is quite bracing, but I think it points out that there are many ways to build this 'luck surface', and the expected values of each are probably very different, and likely situational.
Expected value is really a dumb way to evaluate lottery tickets. I can't believe even supposedly good mathematicians use it. The next dumb way to evaluate lottery tickets is to compare it with other long odds (lightning strikes, marrying your favorite actor). If you want to play along, the probability of you winning the lottery is 10000000000000x more favorable than the probability of you existing in this universe. B…