If I’m reading this analysis correctly, it depends on other players irrationally buying tickets to drive the price up to the point where expected payoff is positive for the next player. Copies of JRMayne could not all play the lottery in this fashion every week for a year and come out ahead.
If I’m reading this analysis correctly, it depends on other players irrationally buying tickets to drive the price up to the point where expected payoff is positive for the next player. Copies of JRMayne could not all play the lottery in this fashion every week for a year and come out ahead.