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You slide your hand into your coat pocket and find an old, folded $100 bill. In the other pocket, you find a coin.
Now, here’s the gamble: flip the coin. Heads, you win another $300. Tails, you hand over your $100 bill. Do you take the risk?
Mathematically, you should. One coin flip gives you two equally likely futures: in one, heads, you gain $300; in the oth...
