Tuesday, January 10, 2006

The risk factor

"What is the optimal amount of risk that I should decide to fly by a plane?"

This question introduces a particular concept.

It is 10 September, 2001. Bindu is getting ready to fly by Indian Airlines. Wait! Not Indian Airlines, let us say, Jet Airways! I tell Bindu, "Don't fly, baba, it is scary, it could be dangerous!"

What is a possible way to evaluate the decision of whether to fly or not?

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