You misunderstand the concept of subjective utility. There's no such thing as a "correct result" because people's preferences (utility) varies by individual.

You misunderstand the concept of subjective utility. There's no such thing as a "correct result" because people's preferences (utility) varies by individual. What's "correct" for a risk-seeking gambler is very different to what's "correct" for an investor who's trying to build generational wealth. That's why we have a U(x) to begin with. Without addressing this concept, you're no longer attempting to describe reality, you're making a prescriptive normative assertion that everyone should follow a specific strategy of your choosing.