Ole Peters coin flip problem

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Bloomberg has arecent article about Ole Peters, who challenges traditional economic theory. One of his ideas is a coin flip game where you win +50% of your bankroll for heads, and -40% of your bankroll for tails. Peters posits that this is a bad game, even though it has a positive expected value, because , the most common result is losing over 99% of the starting bankroll.

https://www.bloomberg.com/news/articles/2020-12-11/everything-we-ve-learned-about-modern-economic-theory-is-wrong

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