utility function theory stuff
bjcount said:
Scotty beam me up... I think we've landed on Vulcan and their using a mind trick on me. Either that or their level of intelligence is way above my comprehension...Heeeellllppppp.
BJC
lol, probably nothing to do with intelligence, probably more to do with the myriad ways the billions of earthlings value their money not even to mention the varying degrees of difficulty they might have extended accumulating that money. lets not even speculate about what money might be worth tomorrow or twenty years from now. who depends on you and your money today, how about ten years from now? whatever, what does money mean to any given individual? how would who ever spend it or expect to profit from it and for what reasons?
then maybe worse the psychology of the gamble sort of stuff.
like think about the contestants on deal or no deal with the briefcases and pretty girls.
maybe they in their everyday life might never dream of risking losing, oh say $60,000.00 over a two day or so period of time. but on that show they are willing to do it in a heartbeat with the encouragement of their spur of the moment reasoning friends, neighbors and relatives urgings.
go figure.
or maybe really try and understand what some level of risk means. or even what the nature of the risk is, the mechanics of it, if that can even be known. just how serious of a matter is it?
how can the ramifications of that risk present over time. like say you started with some amount and lose half of it or what ever. what are your prospects from that point? or maybe we look at some simulation and get some results W/L expectation with some ROR, what we don't see is what happened along the way over billions of hands played to achieve those results. what's that mean to some one not replenishing a bank roll, living off a non replenished bankroll or taking winnings against that bank roll?
how is any given person going to respond to a 'significant' amount of money lost? maybe, one might not have a clue if it's never happened, maybe they just 'think' they know. or even if they really do know, what will that persons financial position be in the future and depending upon that how will they view their actions of the past?
so many things.
:whip: