This XKCD cartoon has a different message for social scientists. Why don't more college football fans bet against their alma maters? Wouldn't that make them happy no matter the outcome?
Here's one attempt: People have a risk preference, and hedging away that risk reduces the enjoyment they get out of a game? Its like a study I once heard about on gambling addicts. They rigged casino games for them so they would always win (some small amount), and the addict would quickly get bored and stop playing for a while.
Here's one attempt:
ReplyDeletePeople have a risk preference, and hedging away that risk reduces the enjoyment they get out of a game?
Its like a study I once heard about on gambling addicts. They rigged casino games for them so they would always win (some small amount), and the addict would quickly get bored and stop playing for a while.