What Day Of The Month Were You Born
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What day of the month were you born? Let’s set X = that day. Imagine that I gave you access to an investment that has the following set of potential payoffs: You have an X% chance of getting $100 right now. You have a (2*X)% chance of getting $50 right now. You have a (100 – 3*X) chance of getting nothing ever. How much would a rational person be willing to pay for the investment?
