FWIW, I remain pretty firmly in the expected-utility camp; but I’m quite interested in looking for cracks around the edges, and exploring possibilities.
I agree that there’s no inherent decision-theory issue with multi-step problems (except for the intricacies of tiling issues!).
However, the behavior of Bayesian agents with utility linear in money, on the Kelly-betting-style iterated investment game, for high number of iterations, seems viscerally wrong. I can respect treating it as a decision-theoretic counterexample, and looking for decision theories which don’t “make that mistake”. I’m interested in seeing what the proposals look like.
I like the “Bellman did it better” retort ;p
FWIW, I remain pretty firmly in the expected-utility camp; but I’m quite interested in looking for cracks around the edges, and exploring possibilities.
I agree that there’s no inherent decision-theory issue with multi-step problems (except for the intricacies of tiling issues!).
However, the behavior of Bayesian agents with utility linear in money, on the Kelly-betting-style iterated investment game, for high number of iterations, seems viscerally wrong. I can respect treating it as a decision-theoretic counterexample, and looking for decision theories which don’t “make that mistake”. I’m interested in seeing what the proposals look like.