steven comments on The Allais Paradox - Less Wrong

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

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Comment author: steven 19 January 2008 07:23:01PM 1 point [-]

Caledonian, Nick T: "Risk aversion" in the standard meaning is when an agent maximizes the expectation value of utility, and utility is a function of money that increases slower than linearly. When an agent doesn't maximize expected utility at all, that's something different.