I'm notorious for making bad bets when the upside is very likely but
the downside is much greater. To save a little time, I risk missing
boats and airplanes. To get a little cheaper gas, I risk running out.
Making good bets in gambling is easier because they're more calculable
than in areas where judgment is involved.
C wrote:
>I was chatting with a fellow VP player about EV and he mentioned that he was finding himself doing "EV" calculations in his daily life (restaurant choices, driving routes, etc).
>
>VP has done that for me as well, and here's an example. I stopped picking up nickels and dimes from the ground about two years ago. And I soon will reach the point where I will stop picking up quarters.
>
>I have occasional back issues, and it "goes out" about once a year. I figure if I bend down to pick up a dime 1,000 times over the long-term, I will most certainly throw out my back at least once doing so. $100 is far outweighed by the suffering of one such incident. So a dime on the floor represents significant negative EV for me.
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