(August 19, 2022 at 7:08 pm)Fireball Wrote:(August 19, 2022 at 5:41 pm)Jehanne Wrote: As stated, the Green button has a higher expected value, but, if I took the $1 million, I would always regret the possible loss of the $50 million. Besides, I used to make my living in Statistical Process Control and would feel like a dumbass in having chosen Red.
Well, alrighty then. #imadumbass
Not necessarily. One could also consider utility -- for instance, a $1,000 tax credit to someone making 10K has a lot more utility than the same tax credit to someone making 100K.
