All of IgneousIcarus 's Comments + Replies

While this is a mathematically correct argument, it implies a real world relationship that does not hold in all cases. To illustrate while a platonic agent would be correct to select 1b let's instead imagine an impoverished Somalian living on a few dollars a day. 24,000 dollars would be a life-changing amount of money. The increased utility of $3000 additional dollars would in no way make up for a 1/34 chance of losing such an opportunity.

Conversely imagine a billionaire in the same situation. For him the optimal choice is neither 1a or 1b instead he shoul... (read more)