3 ms·
It's not about Kelly Criterion specifically but about utility of money in general. Kelly Criterion just solves for maximal utility assuming utility is logarithm
by bluecalm 2y ago
It's not about Kelly Criterion specifically but about utility of money in general. Kelly Criterion just solves for maximal utility assuming utility is logarithmic (big assumption often made for convenience).
- ptsneves 2y agoThe logarithmic part comes from the view point of wealth as a geometric progression. I am not an expert, can you point me to a case where it is not logarithmic?