X is a random variable, E is expected value (a.k.a. average), P is probability. For example, if X is uniformly distributed between 0 and 1, then EX=0.5 and P(X>0.75)=0.25.
Sarunas is saying that some action might not affect the average value, but strongly affect the chances of getting a very high or very low value ("swing for the fences" so to speak). For example, if we define Y as X rounded to the nearest integer (i.e. Y=0 if X0.5), then EY=0.5 and P(Y>0.75)=0.5. The average of Y is the same as the average of X, but the probability of getting an extreme value is higher.
This is probably obvious for others, but it wasn't obvious for me that by paying 0.1 to go from the first game to the second one you both decrease your average earnings and increase the probability of high earnings.
This thread is intended to provide a space for 'crazy' ideas. Ideas that spontaneously come to mind (and feel great), ideas you long wanted to tell but never found the place and time for and also for ideas you think should be obvious and simple - but nobody ever mentions them.
This thread itself is such an idea. Or rather the tangent of such an idea which I post below as a seed for this thread.
Rules for this thread:
If this should become a regular thread I suggest the following :