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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 we
by 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 agoYeah 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 agoMaybe 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.