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Re: Down with the lottery!! (was: 2 kid problem)



P.S. Has anybody else ever marveled at the inspired sleight of
hand wherein the state pays large jackpots over twenty years? If
the state has any investment savvy whatsoever, it will be able
to meet these payments and still end up with *more* than the
original jackpot at the end.

In fact, this practice probably invalidates my argument above
since the expected return is effectively reduced by about 50%
due to the rather small *present* value of the *future* income.
-----------------------------------------------------------------
A. John Mallinckrodt http://www.intranet.csupomona.edu/~ajm
Professor of Physics mailto:ajmallinckro@csupomona.edu
Physics Department voice:909-869-4054
Cal Poly Pomona fax:909-869-5090
Pomona, CA 91768-4031 office:Building 8, Room 223


I think Michigan has now started offering full (50%) payment now
or installments.

Clarence
Oakland University
Rochester, Michigan
http://www3.acs.oakland.edu/physics/staff_info/Bennett.htm