Business, 22.02.2020 05:21 carterlapere

You have gotten tired of working for a living and have taken a brainwave to buy a salvage vessel, cruise to Bermuda, and dive for sunken treasure to become rich. The cost of the vessel, diving gear, a crew, and insurance against "the bends" is $200,000. But the potential payoff is huge: $2 million if you actually find and recover the treasure. Now historically, only 1 out of every 20 treasure hunters like you has ever hit pay dirt.1) Should you invest in diving for treasure, or suck it up and go back to your regular job?2) What is the expected value of Perfect Information on whether there is treasure or not?

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