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V_V comments on Median utility rather than mean? - Less Wrong Discussion

6 Post author: Stuart_Armstrong 08 September 2015 04:35PM

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Tags: utility axioms mean expected expectation median

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Comment author: V_V 09 September 2015 09:08:14AM -1 points [-]

As the Wikipedia says, "If the distribution has finite variance". That's not necessarily a good assumption.

In fact, "Pascal's mugging" scenarios tend to pop up when you allow for utility distributions with infinite variance.

Comment author: Lumifer 09 September 2015 04:30:09PM 1 point [-]

For Pascal's Muggings I don't think you care that much about variance -- what you want is a gargantuan skew.

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