Poll

You are given a choice between a guaranteed $100,000 or 10% chance at $1,000,000. Which do you choose?

$100,000
10% chance at $1,000,000

*Author

Offline Zam888Topic starter

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Re: BE HONEST https://elementscommunity.org/forum/index.php?topic=42503.msg529430#msg529430
« Reply #12 on: August 06, 2012, 12:20:14 am »

Plus, my roommate and I downloaded gameboy emulators so we could battle pokemon! Good times.
(pokemon coming up off-topic twice in one thread...)

Emulators on two computers can link up and battle?  :o Never knew that...

Offline juan_de_diablo

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Re: BE HONEST https://elementscommunity.org/forum/index.php?topic=42503.msg529433#msg529433
« Reply #13 on: August 06, 2012, 12:25:16 am »
Yup, they can. Unfortunately, we did this back in '04-'05, so I can't remember what emulator we were using. It's also been several computers ago, so I can't simply check the HDD.
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Offline IJuggler

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Re: BE HONEST https://elementscommunity.org/forum/index.php?topic=42503.msg529436#msg529436
« Reply #14 on: August 06, 2012, 12:40:58 am »
I don't see the money difference being a real big limiting factor. Even living frugally, 100k wouldn't last a lifetime (unless you radically lowered your standard of living to do so...), and besides that, it doesn't make a single difference in how I'd decide. If the odds average out to be the same as the sure number, always pick the sure number.

If it was a 30% chance at 1million, then maybe that makes things interesting (but I would still pick 100k, for the stability).
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Offline Naesala

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Re: BE HONEST https://elementscommunity.org/forum/index.php?topic=42503.msg529439#msg529439
« Reply #15 on: August 06, 2012, 12:51:00 am »
I always go for the sure thing.
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Offline OldTrees

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Re: BE HONEST https://elementscommunity.org/forum/index.php?topic=42503.msg529473#msg529473
« Reply #16 on: August 06, 2012, 01:54:49 am »
1,000,000 is certainly not 10 times as beneficial to one's happiness as 100,000 is. Easy question.
Seconded.

I would choose
100,000 over 10% chance of 1,000,000 but I would choose 10% chance of 1,000 over 100.
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Offline burpcow

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Re: BE HONEST https://elementscommunity.org/forum/index.php?topic=42503.msg529477#msg529477
« Reply #17 on: August 06, 2012, 01:58:45 am »
Yeah, I would go for the sure thing.

Offline AnonymousRevival

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Re: BE HONEST https://elementscommunity.org/forum/index.php?topic=42503.msg529493#msg529493
« Reply #18 on: August 06, 2012, 02:18:33 am »
I choose 100,000 because:

1. It is definite
2. People with less money are more happy
3. People with less money are kinder, more appreciative, more moral etc.
4. The love of money is the root of all evil, and I do not want to start.....

Now these are just my opinions, you may not neccessarily have to agree with me, esp for 2 and 3.
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Offline willng3

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Re: BE HONEST https://elementscommunity.org/forum/index.php?topic=42503.msg529494#msg529494
« Reply #19 on: August 06, 2012, 02:19:10 am »
This'd be more interesting if the difference was between 10-100k or 1-10k, because the lower the numbers the bigger the difference of what you can do with the two different sums. I would easily pick the guaranteed 100k since my goals in life do not require millions of dollars. I don't know what kind of meaningful goal would.
This is pretty much what I feel about this scenario as well.  Even if I was in a stable position financially I still feel like getting 100k to use as I feel free would be able to be put to good use.  The issue of course here would be deciding what kind of life I would be living if I was in a stable financial position.  For me, I would personally envision myself being a working husband with a couple of kids running around.  In saying that, 100k would be quite useful for putting away for my children's college funding, taking the family on a nice vacation, buying a unicorn, etc.  For someone who doesn't share my vision for what it means to be in a stable financial situation I would still think they wouldn't mind receiving that extra 100k to do with as they please.

Now, if the situation was changed to where I was a billionaire and had money pouring out of my ears then my answer might be a bit different.  Either one of the amounts would be insignificant to what I've already accumulated so I can certainly afford to take the risk for the 10% chance and not really be bothered by the outcome.  But because I wouldn't be bothered by the outcome I can't really say I'd be partial to either of the voting options.

I think this transfers to the popular opinion from the community voting in these polls as well.  I certainly don't know the majority of the users here very well at all, but I don't think many of us are currently in a position where $100k would be considered an insignificant amount of money, therefore it would be much easier to accept it than risk missing out on a golden opportunity to get ahead in life.
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Offline Ilias22

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Re: BE HONEST https://elementscommunity.org/forum/index.php?topic=42503.msg531539#msg531539
« Reply #20 on: August 10, 2012, 02:51:48 pm »
I would be happy if i had 100.000 euro.So who needs 1.000.000 euro if he must risk and possibly loose?(Only if i was so lucky,but i am a bit unlucky  the last few days  :( )

Offline memimemi

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Re: BE HONEST https://elementscommunity.org/forum/index.php?topic=42503.msg531561#msg531561
« Reply #21 on: August 10, 2012, 03:59:26 pm »
100k, no question.  That's a downpayment on a house, plus the funds necessary to renovate it - with money left over to vacation, once I find a tenants.

Then, a steady income, and growing equity.

1.0 million, on the other hand, brings extra taxation nightmares.  I'd rather earn my first million, tyvm.
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Offline thispersonisagenius

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Re: BE HONEST https://elementscommunity.org/forum/index.php?topic=42503.msg532344#msg532344
« Reply #22 on: August 12, 2012, 07:01:05 pm »
Alright, who's that one guy who picked the second option? But seriously, 100K is a pretty good sum of money for me. Being 14 with no allowance, that'd be plenty to get whatever I want. :)
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