Upvoted, because that is indeed a problem. With a utility concave in cash, unless you happen to have an infinity of lottery tickets to hand, you cannot be money pumped in this way.
You can, however, be exploited because of your inability to correctly price dependent contracts.
Upvoted, because that is indeed a problem. With a utility concave in cash, unless you happen to have an infinity of lottery tickets to hand, you cannot be money pumped in this way.
You can, however, be exploited because of your inability to correctly price dependent contracts.