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gwern comments on Checklist of Rationality Habits - Less Wrong
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Then how do you suggest the person under discussion evaluate their working patterns if log utilities are only useful for expected values?
By comparing changes in utility as opposed to absolute values.
To the person with $50000, a change to $70000 would have a log utility of 0.336, and a change to $1 billion would have a log utility of 9.903. A change to $1 would have a log utility of -10.819.
I see, thanks.