Reply To: Mega Millions

Ok, so it turns out that I was correct and incorrect.

I was correct that my explanation didn’t make any sense, and I was incorrect because I thought it was possible to make sense of it, but it isn’t.

I spoke to a chashuv economist tonight. He said it makes no sense–there is no way to explain through risk theories why it makes sense to buy a lottery. The only explanation is that you are paying to dream.