Jun 23, 2017
5 min read
Misunderstanding rationality
It is tempting to equate ‘rational’ with ‘right’, and ‘irrational’ with ‘wrong’, but that is mistaken
The lottery is sometimes called a tax on the stupid. The logic behind this opinion is that the expected net gain is negative. In a post entitled ‘The irrationality of Euromillions’, blogger Robert Sharp works out that buying a £2 ticket is only…
