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> The mathematical answer is you hit green every time. Nope. There's a whole field of research about this - decision theory - which doesn't agree with this dec
by Tade0 4y ago
> The mathematical answer is you hit green every time.
Nope. There's a whole field of research about this - decision theory - which doesn't agree with this decision.
Most people appear to go with the Minmax approach - they minimize potential losses(or in this example: maximize minimal payouts).
For one-time events it's a sound strategy.
- remram 4y agoYeah this is really weird. The author knows one "mathematical" measure, 'expected value', and calls that "mathematics". Ignoring the fact that mathematics have given us way more measures such as variance and the other moments that are just as important and "mathematical". Then microeconomics have given us 'utility' etc. Finding one mathematical concept and saying "mathematics say this" is so strange.