gjm comments on Open thread, Apr. 18 - Apr. 24, 2016 - Less Wrong

2 Post author: MrMind 18 April 2016 07:19AM

You are viewing a comment permalink. View the original post to see all comments and the full post content.

Comments (176)

You are viewing a single comment's thread. Show more comments above.

Comment author: gjm 20 April 2016 09:23:07PM 0 points [-]

at any wealth level

The "concave utility function" theory of risk aversion predicts that, all else being equal, richer people will be less risk-averse about any given sum of money. And I would in fact expect Bill Gates to accept positive-dollar-expectation bets of size ~$100 without a moment's thought.