tcpkac comments on The Allais Paradox - Less Wrong

19 Post author: Eliezer_Yudkowsky 19 January 2008 03:05AM

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Comment author: tcpkac 19 January 2008 08:36:22AM 0 points [-]

Risk aversion, and the degree to which it is felt, is a personality trait with high variance between individuals and over the lifespan. To ignore it in a utility calculation would be absurd. Maurice Allais should have listened to his homonym Alphonse Allais (no apparent relation), humorist and theoretician of the absurd, who famously remarked "La logique mène à tout à condition d'en sortir". Logic leads to everything, on condition it don't box you in.