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@kgwgk "Because optimizing asymptotic growth and maximizing logarithmic utilty are mathematically identical." I'm afraid not. They are infact different. One in

@kgwgk "Because optimizing asymptotic growth and maximizing logarithmic utilty are mathematically identical." I'm afraid not. They are infact different. One includes the starting wealth of the gambler and the other does not.

deleted 6y ago
[deleted]
kgwgk 6y ago
You don't have the slightest idea of what does it mean to maximize the expectation of logarithmic utility, do you? Will you believe it from the mouth of Ole Peters himself? This is from the Nature Physics article: "we had worked out in detail the correspondences between linear utility and additive dynamics; and between logarithmic utility and multiplicative dynamics" From "The time resolution of the St Petersburg paradox": "the time-average performance of the lottery is computed. The final result can be phrased mathematically identically to Daniel Bernoulli's resolution, which uses logarithmic utility" "Equation (6.10) is mathematically equivalent to Bernoulli's use of logarithmic utility."
ReflectedImage 6y ago
@kgwgk "have the slightest idea of what does" On that specific problem there are other problems where they are not equal.
- kgwgk 6y ago
  You acknowledge then that you were wrong when you said that "One includes the starting wealth of the gambler and the other does not." Good. We're progressing. You've learned something today.
  - ReflectedImage 6y ago
    Only how stubborn people can be.
ReflectedImage 6y ago
" You acknowledge then that you were wrong when you said that "One includes the starting wealth of the gambler and the other does not." Good. We're progressing. You've learned something today. " No, one does include the starting wealth of the gambler and the other does not.
- kgwgk 6y ago
  Will you believe it from the mouth of Ole Peters himself? This is from the Nature Physics article: "we had worked out in detail the correspondences between linear utility and additive dynamics; and between logarithmic utility and multiplicative dynamics" From "The time resolution of the St Petersburg paradox": "the time-average performance of the lottery is computed. The final result can be phrased mathematically identically to Daniel Bernoulli's resolution, which uses logarithmic utility" "Equation (6.10) is mathematically equivalent to Bernoulli's use of logarithmic utility."
kgwgk 6y ago
By the way, I'm not even sure what's your misunderstading here. Which solution does include the starting wealth of the gambler, according to you, and which one doesn't?

deleted 6y ago

[deleted]

kgwgk 6y ago

You don't have the slightest idea of what does it mean to maximize the expectation of logarithmic utility, do you? Will you believe it from the mouth of Ole Peters himself? This is from the Nature Physics article: "we had worked out in detail the correspondences between linear utility and additive dynamics; and between logarithmic utility and multiplicative dynamics" From "The time resolution of the St Petersburg paradox": "the time-average performance of the lottery is computed. The final result can be phrased mathematically identically to Daniel Bernoulli's resolution, which uses logarithmic utility" "Equation (6.10) is mathematically equivalent to Bernoulli's use of logarithmic utility."

ReflectedImage 6y ago

@kgwgk "have the slightest idea of what does" On that specific problem there are other problems where they are not equal.

kgwgk 6y ago
You acknowledge then that you were wrong when you said that "One includes the starting wealth of the gambler and the other does not." Good. We're progressing. You've learned something today.
- ReflectedImage 6y ago
  Only how stubborn people can be.

ReflectedImage 6y ago

" You acknowledge then that you were wrong when you said that "One includes the starting wealth of the gambler and the other does not." Good. We're progressing. You've learned something today. " No, one does include the starting wealth of the gambler and the other does not.

kgwgk 6y ago
Will you believe it from the mouth of Ole Peters himself? This is from the Nature Physics article: "we had worked out in detail the correspondences between linear utility and additive dynamics; and between logarithmic utility and multiplicative dynamics" From "The time resolution of the St Petersburg paradox": "the time-average performance of the lottery is computed. The final result can be phrased mathematically identically to Daniel Bernoulli's resolution, which uses logarithmic utility" "Equation (6.10) is mathematically equivalent to Bernoulli's use of logarithmic utility."

kgwgk 6y ago

By the way, I'm not even sure what's your misunderstading here. Which solution does include the starting wealth of the gambler, according to you, and which one doesn't?