About this episode
If you had a choice between instantly receiving £50,000 or a 50% chance to win £1m, which would you pick?
When YouGov asked exactly that question to people in the UK, 73% said they would take the £50,000, while 21% opted for the 50/50 chance of winning £1m.
As you may or may not have imagined, this finding provoked outrage on Twitter, with people saying the UK appeared incredibly risk averse. “This is what’s wrong with Britain,” wrote celebrity polling analyst and More or Less interviewee Nate Silver.
But is the result surprising, when you know a bit more about how people make decisions like this? BBC economics editor Faisal Islam explains why he thinks not. Image: Illustration of paper notes with a sterling pound symbol falling. Credit: Jamie Lawton/Getty Images
Presenter: Lizzy McNeill Series producer: Tom Colls Production co-ordinator: Siobhan Reed Sound engineer: Donald MacDonald Editor: Richard Vadon
Get every episode summarized
Each time More or Less publishes, we email you a written briefing from the transcript — the topics, who appeared, and any specific claims, with the ad reads skipped.
Email me new episodesFree for 3 shows. No card needed.
Hosts & guests
No transcript yet
This episode has not been transcribed. Request it and it moves to the front of the queue.
More episodes
More from More or Less
Why are so many ex-prisoners being sent back to prison?
More or Less
Is every card shuffle unique?
More or Less
Bonus podcast: Norman Numbers
More or Less
Do Germans really take 19.5 days of sick leave per year?
More or Less