A general oversimplified theory of vice: People want to buy variance.
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Obvious but commonly ignored in approaches to controlling dueling/trivial altercations, gambling, drugs, street racing, etc.
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Replying to @literalbanana
is gambling anti-insurance or is insurance anti-gambling
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Replying to @FioraAeterna
within gambling (poker e.g.) there are lots of way to reduce variance (“running it twice” comes to mind) - wonder if there are ways within insurance to increase variance?
12:17 AM - 6 Jan 2020
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