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Topic	The US should institute randomized lotteries
Pogo_Marimo 08/08/22 5:40:50 PM #42:	Tyranthraxus posted... Uhh... That sounds like an actual fucking lottery to me. What do you call that if it's not a lottery? No, the term "lottery" is an abstraction to describe how the model mathematically "solves" the 6 million different ways that wealth gets transferred in every day life, from simple purchasing of commodities to the sale of major businesses. Basically, two agents of typically unequal amounts wager an amount of "wealth", then a "lottery" decides which one loses wealth and which one gains wealth. In the "fair" lottery, the amounts gained and lost are purely proportional to the amount wagered, while in the "unfair" lottery the "Loser Rule" ensures if the person with less wealth loses the "lottery", they lose less than the proportional wealth wagered. It's a simple model to see how wealth (Or possibly other naturally phenomena) distributes itself over time and the effects of outside intervention on the less well-off agent, and is not an actual robust economic model. That's a bit of a simplification because they are variables that are tuned in their models and yadda yadda yadda. Just replace "lottery" with "RNG" and you get the same meaning. --- 'Cause you know that I have no fear, ain't gonna walk into the river and disappear. I'm gonna be a powerful man. Red blood running down the broken sand. <cite>Pogo_Marimo posted [p:967168214] in The US sho... [t:80123216]...</cite> <quote>Tyranthraxus posted... </cite><quote>Uhh... That sounds like an actual fucking lottery to me. What do you call that if it's not a lottery?</quote>No, the term "lottery" is an abstraction to describe how the model mathematically "solves" the 6 million different ways that wealth gets transferred in every day life, from simple purchasing of commodities to the sale of major businesses. Basically, two agents of typically unequal amounts wager an amount of "wealth", then a "lottery" decides which one loses wealth and which one gains wealth. In the "fair" lottery, the amounts gained and lost are purely proportional to the amount wagered, while in the "unfair" lottery the "Loser Rule" ensures if the person with less wealth loses the "lottery", they lose less than the proportional wealth wagered. It's a simple model to see how wealth (Or possibly other naturally phenomena) distributes itself over time and the effects of outside intervention on the less well-off agent, and is not an actual robust economic model. That's a bit of a simplification because they are variables that are tuned in their models and yadda yadda yadda. Just replace "lottery" with "RNG" and you get the same meaning. --- 'Cause you know that I have no fear, ain't gonna walk into the river and disappear. I'm gonna be a powerful man. Red blood running down the broken sand.</quote> ... Copied to Clipboard!
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