3 ms·
Notable: Kelly only works if you're playing a multi-round game. Also careful; I believe money-to-utility is already logarithmic for most people. We don't have
by FeepingCreature 4y ago
Notable: Kelly only works if you're playing a multi-round game.
Also careful; I believe money-to-utility is already logarithmic for most people. We don't have a good intuition for what "billions of utility vs 1 utility" represents.
- ReflectedImage 4y agoHow can you have a game that isn't multi-round? Surely after you finish playing one game, the next game you play (even if it's a completely different game) is the second round.
- lupire 4y agoYou have considered if the number of rounds is large enough. A weekly lottery doesn't have many rounds. A "huge jackpot" is even more rare.
- kgwgk 4y ago> A weekly lottery doesn't have many rounds. It doesn't if you're a house fly. Average life expectancy at birth in OECD countries is around 4'000 weeks.