How Much is That Lottery Ticket Worth BEFORE the Drawing?
Posted on April 4th, 2008 by admin
Ever stop and wonder what that little $1 ticket is worth before it becomes worthless? How much intrinsic value does a near-impossible chance at near-unthinkable riches really have?
Well, to your run-of-the-mill economist, a 10% chance at $100 is worth $10. Prediction markets are all over the place that work on the exact same principle. I […]
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