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shokwave comments on Zut Allais! - Less Wrong

23 Post author: Eliezer_Yudkowsky 20 January 2008 03:18AM

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Comment author: shokwave 14 December 2010 06:02:05AM 1 point [-]

This is why you should use expected utility calculations. The utility of $20,000 also contains the utility of saving your family's lives (say $1,650,000) and retaining a house ($300,000), so choosing between 100% chance of $1,975,000 or 50% chance of $2,025,000 is much easier.