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Chapter 6 of "Elements of Information Theory" by Cover and Thomas is "Gambling and data compression". It explains that maximizing expected utility almost alway
by fraserphysics 6y ago
Chapter 6 of "Elements of Information Theory" by Cover and Thomas is "Gambling and data compression". It explains that maximizing expected utility almost always leads to ruin. I didn't believe it when I first read it. Of course it is exactly correct. I reccomend it.