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The claim was: "Each round, the collective wealth goes up 5%, no matter how many rounds you run. " And this isn't true.

• kgwgk 3y ago
  Do you mean that it's not true that "in one round, the collective wealth goes up 5%"? I could agree with that. (However, if you add "in expectation" it will be true for one round and for each round no matter how many rounds you run.)
  • nhinck 3y ago
    For a finite population and starting wealth, the collective wealth will tend to 0 given enough rounds.
    • kgwgk 3y ago
      So you say that it's false that "in one round, the collective wealth goes up 5%", right? However you agree that it's true that "in one round, the collective wealth goes up 5% in expectation", right? (I agree that "for a finite population and starting wealth, the collective wealth will tend to 0 given enough rounds ALMOST SURELY". The last bit is important though. Otherwise it's like saying that if you flip a coin enough times you will get heads - which is not exactly true.)
      • nhinck 3y ago
        Yeah I would say "in one round, the collective wealth goes up 5% in expectation" but "for a finite population and starting wealth, the collective wealth will tend to 0 given enough rounds" not almost, but absolutely.
        • kgwgk 3y ago
          Maybe you're not aware but almost surely is a technical term - which makes the statement correct. Just like you cannot be absolutely certain to get heads if you flip a coin enough times even though it will happen almost surely.