Would you choose £50,000 over the chance of £1m?
You have the choice of instantly receiving £50,000 or flipping a coin for a 50/50 chance of £1m. Which would you choose? The vast majority
You have the choice of instantly receiving £50,000 or flipping a coin for a 50/50 chance of £1m. Which would you choose? The vast majority decide on taking the £50k, according to a survey of thousands of people by YouGov.
Women voted 82% in favour of the guaranteed cash. The poll has sparked a debate about why Brits appear more risk-averse than people in the US.
So why are the results so clear-cut, and what are the financial and psychological factors at play? Sadly, there is little chance of ever having
such a choice, but there are some interesting lessons for how we manage our money nonetheless.
The BriefWire