Wouldn’t this trivially go away by redenominating outcomes in utilons instead of dollars with diminishing marginal returns?
Then the bookie doesn’t always profit from your loss. I don’t know if that matters to you, though.
Wouldn’t this trivially go away by redenominating outcomes in utilons instead of dollars with diminishing marginal returns?
Then the bookie doesn’t always profit from your loss. I don’t know if that matters to you, though.