But at that point wouldn't you kind of already be a millionaire since your guaranteed the million? So technically you would be losing that million if you press the other button and get nothing. Because whether or not you physically have the money, you would still have the money. This is considering you HAVE to press one button. Does that make any sense? I'm probably over thinking it, but I'm in the mood.
It's a psychological thing. I forget what website I was reading or what exactly it said, but it was explaining that people typically are afraid of losing more than they want to gain. So if you're ever trying to persuade someone to do something, emphasize what they're currently losing or could lose, not what they could gain.
If you use simplified, single-factor reasoning, then you would multiply the reward with the chance you have of getting it to find the answer to which is the more worthwhile option. It's not that pushign the button gives you 50m, more like it has a value of 50m, which is higher than 1m.
I know it'd be tough, but I think I could get by with just one million dollars.
If you have nothing to begin with, you have nothing to lose.
But at that point wouldn't you kind of already be a millionaire since your guaranteed the million? So technically you would be losing that million if you press the other button and get nothing. Because whether or not you physically have the money, you would still have the money. This is considering you HAVE to press one button. Does that make any sense? I'm probably over thinking it, but I'm in the mood.
For what?
It's a psychological thing. I forget what website I was reading or what exactly it said, but it was explaining that people typically are afraid of losing more than they want to gain. So if you're ever trying to persuade someone to do something, emphasize what they're currently losing or could lose, not what they could gain.
For DANCING!
Take percentage chance into account.
If you use simplified, single-factor reasoning, then you would multiply the reward with the chance you have of getting it to find the answer to which is the more worthwhile option. It's not that pushign the button gives you 50m, more like it has a value of 50m, which is higher than 1m.
Where is this button!!??!?
1) Push $100 million button and win
2) Spend <$99 million on a time machine and go back and fix the results.
3) No third step is necessary
4) Profit
I wouldn't. Mathematically it is more favorable to take a shot at 100M. 1 million is not that much money after all...
You're clearly as bad at spelling as you are at actuarial tables.