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Ask HN: What kind of prize would get you to enter an online contest?

1 points by triviatise ↗ HN
What type of expected value would you need to have to bother? For example, For 1 minute I would need to have an expected value of at least $1 (where EV = probability to win * prize value)

would you rather have a higher chance to win a smaller prize (like a technical book) or a smaller chance to win a bigger prize (like a macbook air)? Assume the same expected value

What are some examples of prizes that you would want to win?

6 comments

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mooism2
It doesn't work like that, at least not for me. My perceived chances of winning first prize of a £1000 laptop is always going to be less than 1 in 10,000.

I assume the competition promoter is making a profit out of it somehow.

triviatise
even if the probability is published?
mooism2
The published probability is conditional on my entry being accepted, and implies there is a fixed number of entries allowed. What are my chances of being one of those lucky people allowed to play? Less than 100%.
triviatise
what if the probability is published and constantly updated and there are simple ways to improve your probability?
mooism2
If there are simple things I can do to improve my chances, there are simple things other people can do to worsen my chances (by improving theirs).

Really at this point it isn't primarily a competition any more but has become a game. So make the game play engaging etc.

nantes
A prize that is not a commodity. I'd love one-on-one time with a previous startup founder, a prioritized email exchange with some noteworthy person or expert, or access to a service that is not yet available.

If it had to be a commodity, I would like it to be something that is productive and not a luxury. Although a MacBook would be nice, I'd much prefer a better chance to win a developer's license for something like PyCharm.