The feeling stupid part got me here. Aftter that, I understood a little bit more. So thanks for that.
But I really believe, that it comes down to "how often" these chances come in ones life.
It can be seen in the gameshow "Who want's to be a millionaire". In Germany we have a fourth joker: people give up the savety-net at 16.000 for an aditional joker. till now everyone of the winners, who got the million, did not take this option.
16.000 is a lot of money, regarding, that you started with 0. on the other hand 500 (the second level net) is really not so much, when you are hanging at 125.000 and having to take a shot at the million. and falling down to 500 feels a lot more stupid. so people become risk adverse (risk of loosing a lot and feeling stupid) a lot faster and don't trust their answer when gambling for that million.
But I really believe, that it comes down to "how often" these chances come in ones life.
It can be seen in the gameshow "Who want's to be a millionaire". In Germany we have a fourth joker: people give up the savety-net at 16.000 for an aditional joker. till now everyone of the winners, who got the million, did not take this option.
16.000 is a lot of money, regarding, that you started with 0. on the other hand 500 (the second level net) is really not so much, when you are hanging at 125.000 and having to take a shot at the million. and falling down to 500 feels a lot more stupid. so people become risk adverse (risk of loosing a lot and feeling stupid) a lot faster and don't trust their answer when gambling for that million.