Millionaire Dilemma

[Muahahahaha]

If there were only 2 options left after a 50:50 I would gamble.

With 4 choices I take the 64k

If I can eliminate one of the answers thats enough for me to gamble. If I had no idea at all and had used my 50/50 then I'd take the money.

If you can totally get rid of one answer then wouldn't it be

(0.33 x 125) + (0.67 x 32) = £62.69 K

??

I'll have to think on that one. My instinct is to take the 64k with 3 options.

[Wardonkey]

The upside is much larger, you might be able to answer subsequent questions correctly...

[Ironside]

byron when working out the EV you need to factor in the chances of getting the £250k question right and then the £500k and the million quid question

its basically a coin flip for the ev so it reall depends on what 64k means to you

i would gamble

[kinboshi]

Does it boil down to whether you consider £64,000 to far more significant and life-changing amount than £32,000?

I've discussed this down the pub a few times with people, and I'm from the school that £32K and £64K are both great amounts to win - but the difference it would make to me to win £125K instead of £64K is far greater than me only winning £32K instead of £64K.

I'd be gambling. As Muahahahahahahahahahahaha said - it's a one-off opportunity, and Andrew's implied odds make it very interesting.  It's also unlikely that you're going have absolutely no clue about the question whatsoever - and if you can discount an answer, that really changes things.

40/60 split on the voting so far though.

[Jon MW]

I'm a degenerate

i would gamble

FYP

[Jon MW]

I'm a degenerate

i would gamble

FYP

[Indestructable]

i just voted and the poll came up with results as 50-50, thought I had used my lifelines.  

[kinboshi]

i just voted and the poll came up with results as 50-50, thought I had used my lifelines. 

Ed voted to gamble, as he knew it would guarantee him more TV time.

[lucky_scrote]

Ironside your sig made me laugh omg hahahah!   

Anyway, it is -EV to gamble if you haev a 25% chance on getting the question right. I would take the money.

Where as something like deal or no deal where i will either win 1p or 250,000 pounds, i am going to gamble unless i get offered 125,000 or more...which isnt going to happen So id have to gamble!

[Graham C]

I'd be quite pleased with £64k

[kinboshi]

I'd be quite pleased with £64k

But would you be quite pleased with £32K, and REALLY pleased with £125K?

[bolt pp]

If you had the 50/50 left insta gamble, though ive seen some turn it down!

-EV otherwise, take the dough

[George2Loose]

I think it also comes down to how gutted you'd be to halve your cash if you got it wrong.

Personally it's a tough one but I think I'd gamble.....

[Indestructable]

I would prefer to go through life trying and failing, than walking away and then finding I had guessed the right answer.
And yes Kinboshi, losing £32k would make good telly. 

[ripple11]

 I'd read out the answers and wait for the cough.