Suppose that you lead a comfortable middle-class life. Let’s say that you’re in your 30s, married, two children, and you make $100,000 per year. I offer you a fair coin flip with the following possible outcomes:
Heads: You will be stripped of most of your assets and will earn $30,000 per year for the rest of your life. That’s all you get, and neither friends nor family can top it up for you.
Tails: You will earn $1 million per year for the rest of your life.
Treat this as a serious question. Would you take me up on my offer to flip the coin?
"We are not deep in wonder. We are bankrupt and considering divorce in Oklahoma. We want to know how to make money with candy stands at miniature-golf courses. We want do-it-yourself plans for an electric unicycle and for dog wheelchairs. We are curious about Hungarian customs regulations and how to use a spinal-cord monitor during scoliosis surgery. Also, please, we would like instructions on How to Set Up a Pony Ride with No Ponies."