solipsist comments on An extended class of utility functions - Less Wrong

3 Post author: Stuart_Armstrong 17 June 2014 04:36PM

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Comment author: solipsist 18 June 2014 03:08:13AM *  0 points [-]

The ghost of Ilya Shpitser will glower at you for conditioning directly on bet, rather than on the counterfactual where you take the bet. But I'd like to see where you go before hammering on that point.

If I understand you, these are the expected values of the utility functions you outline.

Event       |   u  |   T  |u + T
------------+------+------+-----
no bet      |  $49 |   $0 | $49
bet         |  $50 |   $0 | $50
bet & heads |   $0 |  $50 | $50
bet & tails | $100 | -$50 | $50

Is that correct?

Comment author: Stuart_Armstrong 18 June 2014 07:12:53AM *  1 point [-]

Yes, I was not looking at subtleties like that :-)

Your table is correct.

EDIT: your table is correct, but there are some extra unimportant subtleties - like the fact that under "bet", you don't have a u, only an expected u.

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