Khoth comments on The Savage theorem and the Ellsberg paradox - Less Wrong

13 Post author: fool 14 January 2012 07:06PM

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Comment author: Khoth 14 January 2012 08:56:57PM 2 points [-]

If the ball-picking was repeated a number of times after you chose your colour scheme, then risk-aversion (or the declining marginal utility of not being kicked in the head) would make the "intuitive" choice the correct one. I wonder if people's choices in the one-shot version are what they are because of this.