How could it possibly be the rational choice if the ev doing so is so ridiculously negative?
Having student debt doesn't justify throwing away the rest of your residual income
Having student debt doesn't justify throwing away the rest of your residual income
People that get two or three years of college debt and no diploma have a big hole to fill and a small shovel.
Anyway, I think ev isn't the right tool to model gambling behavior; dollar utility isn't linear. It's more about a small spending for a large potential. But then you get into repeated small wagers and such.
> Anyway, I think ev isn't the right tool to model gambling behavior; dollar utility isn't linear.
You're right. The more money you have, the less utility it gives you, which makes gambling for a windfall an even worse decision. Worse still if you include taxes.
Very positive (IRR ~9%). It's been studied extensively: https://openknowledge.worldbank.org/server/api/core/bitstrea...
-If I gamble and lose, the same wage cuck life awaits me
-If I gamble and win, I may actually ascend and have the kind of life I aspire to