Magic Wallet
Let's say you are given a "magic wallet". You have to make a decision from the following choices and can never change your mine.
Choice 1: Every hour, a $10 bill will appear in the magic wallet. A new $10 bill will only appear if the previous one has been removed. If removed regularly, the bills will appear at a set interval of one hour. If a bill is not removed before the next scheduled appearance of a new bill, a new bill will not appear until one hour after the current one is removed, thus resetting the interval as well.
Choice 2: Every 24 hours, a $100 bill will appear in the magic wallet. The same rules apply based on this 24 hour interval.
Will you choose the $10 bill, with the potential payout of $240 a day? Or the $100 bill which will yield only $100 a day? The $10 bill requires removal once an hour to get $240 a day, while you only need to remove the $100 bill once a day.
Most people I have presented this with have opted for the $100 bill, since it requires far less attention. However consider this: In one year, you can only make $36,500 from the $100 bill choice. With the $10 bill choice, you have the potential of making $87,600 in a year (yet you would get no sleep)....quite a difference!
Think about it.
Choice 1: Every hour, a $10 bill will appear in the magic wallet. A new $10 bill will only appear if the previous one has been removed. If removed regularly, the bills will appear at a set interval of one hour. If a bill is not removed before the next scheduled appearance of a new bill, a new bill will not appear until one hour after the current one is removed, thus resetting the interval as well.
Choice 2: Every 24 hours, a $100 bill will appear in the magic wallet. The same rules apply based on this 24 hour interval.
Will you choose the $10 bill, with the potential payout of $240 a day? Or the $100 bill which will yield only $100 a day? The $10 bill requires removal once an hour to get $240 a day, while you only need to remove the $100 bill once a day.
Most people I have presented this with have opted for the $100 bill, since it requires far less attention. However consider this: In one year, you can only make $36,500 from the $100 bill choice. With the $10 bill choice, you have the potential of making $87,600 in a year (yet you would get no sleep)....quite a difference!
Think about it.
posted by Chris at 3:14 PM
1 Comments:
Okay, stop thinking about for God's sake and post something.
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