Not if the marginal utility of money decreases as you have more.
If your utility function has convex parts then it might be possible, though. If you have $1000 but owe the Mafia $2000 and they’re coming to collect, betting it all on black might be a good idea.
Not if the marginal utility of money decreases as you have more.
If your utility function has convex parts then it might be possible, though. If you have $1000 but owe the Mafia $2000 and they’re coming to collect, betting it all on black might be a good idea.