He does not have (even in this hypothetical situation) a million bucks. Hypothetically, he’s being offered a 15% chance of winning a million bucks.
Incidentally, in a staggering display of risk aversion, I asked a friend how much she’d pay for a 15% chance of a million dollars and she said maybe twenty bucks because those did not seem like “very good odds” to her. -.-
He does not have (even in this hypothetical situation) a million bucks. Hypothetically, he’s being offered a 15% chance of winning a million bucks.
Incidentally, in a staggering display of risk aversion, I asked a friend how much she’d pay for a 15% chance of a million dollars and she said maybe twenty bucks because those did not seem like “very good odds” to her. -.-