|
In response to
"from the backboards... the $79k snake bite .... ya know, if i didnt have great insurance, and i knew there was a change i'd have to pay out..."
by
i'm not dead yet !
|
I TAed for an econ prof who used to play a similar game with his classes.
Posted by
mafic
Nov 24 '09, 10:20
|
two scenarios, one to each half the class. one: say the little finger of your non-dominant hand gets ripped off in some kind of accident, you're travelling and have no insurance, how much do you pay to get it reattached?
two:I'm a rich sadist, I like to cut people's fingers off, and I'm willing to pay for it. how much do you ask for (knowing that he won't pay any amount, only what he feels is reasonable)?
I always expected two to have the higher value, if only for the pain premium, but they were typically fairly close.
|