The expected value of buying a video game is about -$60, but people keep doing it, what chumps!
Some people get pleasure from playing the lottery occasionally. The value of the ticket, to them, is the same as the price. There are gambling addicts and people who buy lottery tickets as a way to try to make money, and they have made an error, but I don’t think that’s most people who buy tickets, even if it may be who most tickets go to.
I don’t think those are even close to equivalent. The enjoyment from video games does not come from a hope of it “paying out.” The fun of gambling is usually from the chance of getting a reward. If the reward were not there, would they still enjoy it? Probably not, so they’re not just enjoying the act. Sure, there’s some dopamine release that’s driving the behavior, which is enjoyable, but there are methods to get this with better EV and more rationally.
The expected value of buying a video game is about -$60, but people keep doing it, what chumps!
Some people get pleasure from playing the lottery occasionally. The value of the ticket, to them, is the same as the price. There are gambling addicts and people who buy lottery tickets as a way to try to make money, and they have made an error, but I don’t think that’s most people who buy tickets, even if it may be who most tickets go to.
I don’t think those are even close to equivalent. The enjoyment from video games does not come from a hope of it “paying out.” The fun of gambling is usually from the chance of getting a reward. If the reward were not there, would they still enjoy it? Probably not, so they’re not just enjoying the act. Sure, there’s some dopamine release that’s driving the behavior, which is enjoyable, but there are methods to get this with better EV and more rationally.