Gambles Cancer Patients are Willing to Take
77 percent of surveyed cancer patients preferred “hopeful gambles” –treatments that offer a 50 percent chance of adding three years to their survival but also a 50 percent chance of no additional survival – to “safe bet” treatments that would keep them alive for eighteen months.
Full Health Affairs study on “hopeful gambles” vs. “safe bets”.
This sounds irrational but this explains the popularity of the lottery. People (apparently) are willing to take a 99.999% chance they will lose a small amount of money in return for a .0001% change they will become rich.
This similar to a lottery. Definition of a lottery: investment schemes for people are bad at math.
Interesting gamble.
All depends on the person and circumstance perhaps.