When we speak of an inherent utility of certainty, what do we mean by certainty? An actual probability of unity, or, more reasonably, something which is merely very much certain, like probability .999? If the latter, then there should exist a function expressing the “utility bonus for certainty” as a function of how certain we are. It’s not immediately obvious to me how such a function should behave. If probability 0.9999 is very much more preferable to probability 0.8999 than probability 0.5 is preferable to probability 0.4, then is 0.5 very much more preferable to 0.4 than 0.2 is to 0.1?
When we speak of an inherent utility of certainty, what do we mean by certainty? An actual probability of unity, or, more reasonably, something which is merely very much certain, like probability .999? If the latter, then there should exist a function expressing the “utility bonus for certainty” as a function of how certain we are. It’s not immediately obvious to me how such a function should behave. If probability 0.9999 is very much more preferable to probability 0.8999 than probability 0.5 is preferable to probability 0.4, then is 0.5 very much more preferable to 0.4 than 0.2 is to 0.1?