IlyaShpitser comments on Open thread, January 25- February 1 - Less Wrong

8 Post author: NancyLebovitz 25 January 2014 02:52PM

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Comment author: IlyaShpitser 27 January 2014 11:05:47AM * -1 points [-]

Is it always correct to choose that action with the highest expected utility?

People who play with money don't like high variance, and sometimes trade off some of the mean to reduce variance.