A general oversimplified theory of vice: People want to buy variance.
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Replying to @ctbeiser
isn’t that imagining there’s a set demand for variance and people try to converge on it? people in uncertain situations might be more likely to have shit situations that motivate them to gamble big
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Replying to @literalbanana @ctbeiser
(what becker & posner posed as negative present value of life EV - recent challenges to expected value theory don’t seem to apply here)
12:27 AM - 6 Jan 2020
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