You forgot to specify the utility of the other outcome when your 50% chance of chocolate fails. Assuming the outcome (“failed attempt at chocolate”) has a u utility of 0, it will then have a u’ utility that is nonzero, which you failed to include in your second calculation.
Nice try, buster ;)
BTW: Up voted, I would strongly like to see more of this type of content.
You forgot to specify the utility of the other outcome when your 50% chance of chocolate fails. Assuming the outcome (“failed attempt at chocolate”) has a u utility of 0, it will then have a u’ utility that is nonzero, which you failed to include in your second calculation.
Nice try, buster ;)
BTW: Up voted, I would strongly like to see more of this type of content.