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[–] 15 points 2 years ago* (last edited 2 years ago) (3 children)

This is a perfectly succinct, textbook example of Outcome Bias.

Betting $1 with a 1 in 3 chance to win $2 is objectively a bad idea; the odds are against you. It doesn't cease to be a bad idea if you happen to win the $2 after 1 bet.

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  • [+] -13 points 2 years ago (2 children)

    Nothing like one person being right and another being wrong in bringing the amateur philosophers out.

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