I think you swapped concave and convex in the text. The logarithm function is a concave function. Bit unfortunate that convex preferences usually means that the average is better which is similar to concave utility functions.
Fixed it! Thanks! It is very confusing that half the time people talk about loss functions and the other half of the time they talk about utility functions
I think you swapped concave and convex in the text. The logarithm function is a concave function. Bit unfortunate that convex preferences usually means that the average is better which is similar to concave utility functions.
Fixed it! Thanks! It is very confusing that half the time people talk about loss functions and the other half of the time they talk about utility functions