Strictly Eating Chances: You can’t eat chances? Oh yes you can!

I say this despite David Wasserman’s snide comment on the claims made by us lottery enthusiasts. We would say that where there are more qualified applicants than places available, a lottery’s the thing. Some will then win a place — “eat”— but everyone will benefit by having had the chance of winning.

But what is the value of a chance when you win nothing? Rationally we should conclude that the value of nothing is zilch, zero, nada.

In another swipe at advocates of lotteries for sharing Wasserman comments:

if it makes sense to treat an expectation as a good, it also makes sense to ask whether the value of that good increases the longer it is held by the recipient.

It’s nice to see a bit of sarcasm from a philosopher whose main concern is medical ethics!

Instead, I’d like to take up Wasserman’s challenge, and propose that your ‘expectation’ — your ticket to the lottery — can indeed be made more valuable by spinning out the process.

Take for example the way the TV hit show Strictly Come Dancing (in the US it’s called Dancing With the Stars) operates. They start with a dozen or so stars. Each week they dance competitively, and by a complex process one star is eliminated. Over the next weeks the process is repeated, one ‘loser’ every week until there are three left. It is then decided by a Grand Finale.

I take it as axiomatic the producers know how to give the public good entertainment value. That’s show business!
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