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Business, 03.03.2020 00:50 zzk8

Comparing a lottery where a $1 ticket purchases a chance to win $1 million with another lottery in which a $5,000 ticket purchases a chance to win $5 billion, we notice many people would participate in the first but not the second, even though the odds of winning both lotteries are the same. We can perhaps best explain this outcome by:

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Comparing a lottery where a $1 ticket purchases a chance to win $1 million with another lottery in w...
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