Having student debt doesn't justify throwing away the rest of your residual income
People that get two or three years of college debt and no diploma have a big hole to fill and a small shovel.
Anyway, I think ev isn't the right tool to model gambling behavior; dollar utility isn't linear. It's more about a small spending for a large potential. But then you get into repeated small wagers and such.
> Anyway, I think ev isn't the right tool to model gambling behavior; dollar utility isn't linear.
You're right. The more money you have, the less utility it gives you, which makes gambling for a windfall an even worse decision. Worse still if you include taxes.
Very positive (IRR ~9%). It's been studied extensively: https://openknowledge.worldbank.org/server/api/core/bitstrea...
-If I gamble and lose, the same wage cuck life awaits me
-If I gamble and win, I may actually ascend and have the kind of life I aspire to
> From emption + -al Adjective (obsolete, rare) Capable of being purchased