Professor Richard Thaler: Masters in Business (Audio)
Masters in Business
00:00
Why Do People Love Gambling?
i used to tease my father, who was driving around in fancy b m w, looking for the cheapest price for gas. A twain once called gambling a tax on the stupid. i think it's a mostly right? Why do people love gambling? They like the thrill, you know? And of course, the betting is irrational because the rate of return is minus 17% per 20 minutes.
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