Nick_Tarleton comments on The Allais Paradox - Less Wrong

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

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Comment author: Nick_Tarleton 20 January 2008 03:32:28AM 2 points [-]

You can define a utility function on gambles that is *not* the expected value of a utility function on amounts of money, but then that function is not *expected* utility, and you're outside of normal models of risk aversion, and you're violating rationality axioms like the one Eliezer gave in the OP.

Having a utility function determined by anything other than amounts of money is irrational? WTF?