Vaniver comments on A summary of Savage's foundations for probability and utility. - Less Wrong

34 Post author: Sniffnoy 22 May 2011 07:56PM

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Tags: probability utility bayesian decision decision_theory rationality

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Comment author: Vaniver 07 November 2011 03:33:24AM *  1 point [-]

You are also indifferent between $-3 iff Red and $-3N (= $-6) iff Green (or equivalently Blue).

Isn't this -1 and -4, not -1 and -1? I think you want -3/N = -1.5.

Comment author: endoself 07 November 2011 01:37:01PM *  0 points [-]

I'm not quite sure what you're first sentence is referring to, but fool prefers risk to uncertainty. From his post:

given a bet on red whose payoff has utility 1, and a bet on green whose payoff has utility N, what is the critical N where I am indifferent between the two?

. . .

you can give me an N>1 and I'll go with it.

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