Lottery tickets and long shots

See on Scoop.itThe Global Village

We humans have a curious relationship with chance. We’re prepared to place bets that events with incredibly small probabilities will occur — such as the 1 in 259 million chance that a ticket will win the Mega Millions lottery . Yet, we go about our everyday lives happily ignoring far larger probabilities — that we might get killed by a lightning strike, for example, which has a chance of about 1 in 3 million in the United States each year.

Kevin Friery‘s insight:

Why do humans ignore the odds? Because improbable events are commonplace.

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