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To translate the article into your probability of success framework: wealth confers both a higher probability of success at each attempt, and the ability to make more attempts without becoming impoverished.

Given that the 'number of attempts' part of the equation is generally quite a small number, if you do the basic maths implied by your comment then you can see how valuable it is to be able to afford a couple more tries at success for people with moderate chances.

That same maths also shows how difficult it is to succeed at the bottom end of the 'probability of success per attempt' space, and how even very small increases in that probability can make large (expected) changes in outcome.



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This is one of the best explanations of how wealth can buy luck that I think I've ever read. Thank you.

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