Nainodelac_and_Tarleton_Nick comments on The Allais Paradox - Less Wrong
You are viewing a comment permalink. View the original post to see all comments and the full post content.
You are viewing a comment permalink. View the original post to see all comments and the full post content.
Comments (133)
Risk and cost of capital introduce very strange twists on expected utility.
Assume that living has a greater expected utility to me than any monetary value. If I need a $20,000 operation within the next 3 hours to live, I have no other funding, and you make me offer 1, it is completely rational and unbiased to take option 1A. It is the difference between a 100% of living and a 97% chance of living.
If I have $1,000,000,000 in the bank and command of legal or otherwise armed forces, I may just have you killed - for I would not tolerate such frivolous philosophizing.