I suppose that in theory one should pick an n that approaches infinity. It’s an affront to our instincts, because we don’t have any psychological basis for rewards for which we should not be risk averse, but utility can’t decrease in marginal utility.
A high likelihood of some small utility isn’t worth even a tiny chance of becoming this guy.
I suppose that in theory one should pick an n that approaches infinity. It’s an affront to our instincts, because we don’t have any psychological basis for rewards for which we should not be risk averse, but utility can’t decrease in marginal utility.
A high likelihood of some small utility isn’t worth even a tiny chance of becoming this guy.