Yes, thanks, I didn’t bother including it in the body of the post but that’s basically how it goes. Worth noting that this:
Both of these wagers have infinite expected utility, so we must be indifferent between them.
...is kind of shortcutting a bit (at least as Savage/Fishburn[0] does it; he proves indifference between things of infinite expected utility separately after proving that expected utility works when it’s finite), but that is the essence of it, yes.
(As for the actual argument… eh, I don’t have it in front of me and don’t feel like rederiving it...)
[0]I initially wrote Savage here, but I think this part is actually due to Fishburn. Don’t have the book in front of me right now though.
Yes, thanks, I didn’t bother including it in the body of the post but that’s basically how it goes. Worth noting that this:
...is kind of shortcutting a bit (at least as Savage/Fishburn[0] does it; he proves indifference between things of infinite expected utility separately after proving that expected utility works when it’s finite), but that is the essence of it, yes.
(As for the actual argument… eh, I don’t have it in front of me and don’t feel like rederiving it...)
[0]I initially wrote Savage here, but I think this part is actually due to Fishburn. Don’t have the book in front of me right now though.