wedrifid comments on An Attempt at Preference Uncertainty Using VNM - Less Wrong

8 [deleted] 16 July 2013 05:20AM

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Comment author: wedrifid 17 July 2013 05:46:58AM 0 points [-]

There is good reason to pay attention to scale but not to zero-points: any normalization scheme that you come up with will be invariant with respect to adding constants to the utility functions unless you intentionally contrive one not to be.

Making such modifications to the utilities of outcomes will result in distorted expected utilities and different behaviour.

Comment author: AlexMennen 17 July 2013 08:06:53AM 0 points [-]

I meant invariant with respect to adding the same constant to the utility of every outcome in some utility function, not invariant with respect to adding some constant to one outcome (that would be silly).