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> fundamentally it doesn't seem that insightful that by choosing different scoring functions, and taking expectations over distributions of scores, we can recov
by kgwgk 6y ago
> fundamentally it doesn't seem that insightful that by choosing different scoring functions, and taking expectations over distributions of scores, we can recover all kinds of behaviours that might be of interest
Well, expected utility theory has been a great success and it’s used all the time to produce useful results in many fields. And the idea of optimizing growth is not new, it has been used within the expected utility framework since the fifties.
If you find the EE derivations interesting it’s fine. But don’t think it proves that EUT is wrong. And be aware that people use the same kind of analysis of the details of problems to select utility functions within the EUT framework.
EUT can be used for many things. It can be used to study empirically the behavior of people (who are not really “rational”).It can also be used to optimize industrial processes (according to a “rational” model). It can be used anywhere that there are decisions about uncertain outcomes which are more or less desirable.