The math of very wide value ranges requires some assumptions about “compared to what” that it’s necessary to calculate in order to make good decisions. Putting the calculations together to figure out what “a bit” is—what’s the amount you should spend on which lottery this week?
I suspect you’ll find that the lottery is better than buying junk food, and worse than almost any other charitable or durable-value use of money.
The math of very wide value ranges requires some assumptions about “compared to what” that it’s necessary to calculate in order to make good decisions. Putting the calculations together to figure out what “a bit” is—what’s the amount you should spend on which lottery this week?
I suspect you’ll find that the lottery is better than buying junk food, and worse than almost any other charitable or durable-value use of money.