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Desrtopa comments on Deviant argumentation regarding Monty Hall problem - Less Wrong Discussion
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The expected winnings are in money though, not utility, so risk aversion may be justified.
Yes.
If someone offered me a sure $100,000 or a coinflip between $250,000 and $1, I'm pretty sure I know which one I'd choose. As far as I can see you can only win the big prize if you are rich enough not to be risk averse about amounts that size.