At low levels of betting, it’s reasonable that have that money partly serve to buy you status. You’re signaling your confidence in your beliefs, and therefore signaling your competence in rationality.
When the bet gets higher, it’s no longer a good pric.for signaling. So the rational position to bet changes.
At low levels of betting, it’s reasonable that have that money partly serve to buy you status. You’re signaling your confidence in your beliefs, and therefore signaling your competence in rationality.
When the bet gets higher, it’s no longer a good pric.for signaling. So the rational position to bet changes.