After leaving the electronics store, you buy a $1 ticket for tomorrow evening’s $80 million Powerball drawing. As it happens, I’ve also bought a Powerball ticket. And I decide to make you a deal. I offer to trade you my ticket for yours—and give you $3 for it. Would you accept? Of course, you should. And, of course, you won’t. Both of our tickets have an equal chance of winning. If you make the exchange, your odds of winning Powerball remain identical and extremely remote. But you’ll now have three more dollars than before. It’s a no-brainer!
