Let’s say I offer you the following gamble: You roll a dice, and if you throw a six, I will give you one hundred times your total wealth. Anything else, and you have to give me all...
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Let’s say I offer you the following gamble: You roll a dice, and if you throw a six, I will give you one hundred times your total wealth. Anything else, and you have to give me all that you own, including your retirement savings and your favorite pair of socks. I should point out that I am fantastically rich, and you needn’t worry about my ability to pay up, even in these challenging times. Should you do it?