4 ms·
> If we put bounds on the bank in SPP, the first coin toss would still have positive EV. Not if the bank starts with $0. 0 is just as valid a bound as a trilli
by wmorgan 3y ago
> If we put bounds on the bank in SPP, the first coin toss would still have positive EV.
Not if the bank starts with $0. 0 is just as valid a bound as a trillion. You can’t calculate the EV without knowing how much the bank has, and once you know that, you realize the naive calculation for EV is wrong.