Risk aversion arises when you would get a high marginal utility of wealth in future states in which you are relatively poor.
Risk aversion can be demonstrated even in trivial cases where you offer people a certain payout of $10 or a 50% chance of getting $20. I don’t think it’s about high marginal utility of wealth in certain future states.
Cryonics is not at all like insurance: insurance is about paying to protect yourself from a small chance that a bad thing will happen. Cryonics is about paying to get a small chance that a good thing will happen. It’s much more akin to a lottery (as Vaniver already pointed out).
Explaining my position would be more appropriate for a full post rather than a response to a response to a response, so for now I will tap out on this issue.
Risk aversion can be demonstrated even in trivial cases where you offer people a certain payout of $10 or a 50% chance of getting $20. I don’t think it’s about high marginal utility of wealth in certain future states.
Cryonics is not at all like insurance: insurance is about paying to protect yourself from a small chance that a bad thing will happen. Cryonics is about paying to get a small chance that a good thing will happen. It’s much more akin to a lottery (as Vaniver already pointed out).
Risk aversion generally occur when your subjective utility with respect to some quantity X is monotonically but sublinearly increasing.
In most economic analysis X is generally considered to be money, but it can be really anything else, including years spent in utopia.
Explaining my position would be more appropriate for a full post rather than a response to a response to a response, so for now I will tap out on this issue.