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Expected value does not equal utility. I am not willing to mortgage my 1 million dollar house for a 1 in a 1000 shot at a billion.
by bluecheese452 3y ago
Expected value does not equal utility. I am not willing to mortgage my 1 million dollar house for a 1 in a 1000 shot at a billion.
- ISL 3y agoThen one should be very careful when assigning 99.9% confidence intervals.
- bluecheese452 3y agoThe two are unrelated.