For small enough probabilities the spirit of the calculation does change. That’s true. You then have to factor in the utility of the money spent.
ETA: that factor exists even with non-small probabilities, it just tends to be swamped by the other terms.
For small enough probabilities the spirit of the calculation does change. That’s true. You then have to factor in the utility of the money spent.
ETA: that factor exists even with non-small probabilities, it just tends to be swamped by the other terms.