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Debbie Gartner
The Flooring Girl - White Plains, NY
The Flooring Girl & Blog Stylist -Dynamo Marketers

That's not really the pareto principle.  But, while the expected dollar value is the same, I'd go for the $200 w/ greater odds..because I'd still be thrilled to win $200...and not much of a difference of happiness w/ $800.  So, overall, I'd come out ahead w/ the added happiness.

Apr 17, 2015 10:56 PM
Rainmaker
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Gabe Sanders
Real Estate of Florida specializing in Martin County Residential Homes, Condos and Land Sales - Stuart, FL
Stuart Florida Real Estate

How much am I betting?

Apr 18, 2015 06:11 AM
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Susan Haughton
Long and Foster REALTORS (703) 470-4545 - Alexandria, VA
Susan & Mindy Team...Honesty. Integrity. Results.

This is more of a measure of who is risk averse.  I'd roll the dice and try for the $800.  I'm almost always lucky at the slots, so I'm thinking this will be same. 

Apr 18, 2015 02:32 AM
Rainer
50,104
James Hoff
Century 21 Award - Rancho Santa Margarita, CA
Real Agents Work

80% of "effect" comes from 20% of the "causes" ... 

I'd take the $200 but the 80/20 rule I think is based more around effort and work put in to get something out as opposed to a matter of chance.

Apr 18, 2015 01:57 AM
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John McCormack, CRS
Albuquerque Homes Realty - Albuquerque, NM
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$200

 

Apr 17, 2015 11:26 PM
Rainmaker
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Michael Setunsky
Woodbridge, VA
Your Commercial Real Estate Link to Northern VA

Praful Thakkar The 80% chance of winning $200 is more in your favor. In theory, according to the Pareto principle, since 20% causes 80% of the effect, the chance of winning $800 would seem more likely. When it comes to gambling, I would still go with the odds of winning.

Apr 17, 2015 10:41 PM
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Gita Bantwal
RE/MAX Centre Realtors - Warwick, PA
REALTOR,ABR,CRS,SRES,GRI - Bucks County & Philadel

I would try for $200.

Apr 17, 2015 09:45 PM
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Nina Hollander, Broker
Coldwell Banker Realty - Charlotte, NC
Your Greater Charlotte Realtor

I'd go for the $200--the odds are with me. (And maybe the force is with me, too!)

Apr 17, 2015 09:32 PM
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TeamCHI - Complete Home Inspections, Inc.
Complete Home Inspections, Inc. - Brentwood, TN
Home Inspectons - Nashville, TN area - 615.661.029

 I would choose the $200. The $200 can be invested and earn interest. Besides, the odds are more your favor.

Apr 17, 2015 06:47 PM
Rainmaker
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Ajay Pandya
e-Merge Real Estate - Columbus, OH
Realtor Ajay Pandya

I'd take chance, Praful. $800 for 20%. I am lucky, you know that.

Apr 23, 2018 10:00 PM
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Tony and Suzanne Marriott, Associate Brokers
Serving the Greater Phoenix and Scottsdale Metropolitan Area - Scottsdale, AZ
Haven Express @ Keller Williams Arizona Realty

Setunsky nailed this one!

Sep 24, 2017 04:53 AM
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Debbie Reynolds, C21 Platinum Properties
Platinum Properties- (931)771-9070 - Clarksville, TN
The Dedicated Clarksville TN Realtor-(931)320-6730

I will go with the $200 risk. Very interesting answers.

Sep 08, 2016 11:00 AM
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Trumps Elite
Keller Williams Realty Acadiana - Lafayette, LA
Realtors/Career Consultant

I'd go with the 80% because I'm not much of a gambler. I always go with the safe route. Praful which would you choose? :)

Apr 24, 2015 11:17 AM
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Praful Thakkar
LAER Realty Partners - Andover, MA
Andover, MA: Andover Luxury Homes For Sale

You are right - this has nothing to do with Pareto Principle - this question has something to do with psychology.

People who opted for $200 are 'safe' and those who opted for $800 are risk takers.

What did you choose?

Apr 20, 2015 03:40 PM