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I'm sure that losing $X, where X is large compared to your wealth, is generally a bigger event than gaining $X in terms of utility. But can't we always repeat
by jrp 17y ago
I'm sure that losing $X, where X is large compared to your wealth, is generally a bigger event than gaining $X in terms of utility. But can't we always repeat the argument so that the game is fair when measured in utility?
- GavinB 17y agoYes, but once you've done so the problem loses the property of having one set that is preferable to the others.
- ewjordan 17y agoIt's also generally impossible to make a non-trivial game both zero sum in dollars and zero sum in utility, when using a non-trivial dollar->utility conversion.