Tag Archives: risk-reward

Lotteries

What is a lottery? First, what category does it fall into? We can classify it as a “scheme”, or a “game”. I mean this in a formal game theory sense. Although the “game” label is also justified due to the … Continue reading

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Risk and Reward

Let us say you are in a game show. You are given a choice of two options A and B. With option A, you obtain a reward of Rs. 1 crore. With option B, one of two outcomes is chosen … Continue reading

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