Yeah, I think I’m about to write a reply to your massive comment, but I think I’m getting closer to understanding. I think what I really need to do is write my “Kelly is Black-Scholes for utility” post.
I think that (roughly) this post isn’t aimed at someone who has already decided what their utility is. Most of the examples you didn’t like / saw as non-sequitor were explicitly given to help people think about their utility.
I think that (roughly) this post isn’t aimed at someone who has already decided what their utility is. Most of the examples you didn’t like / saw as non-sequitor were explicitly given to help people think about their utility.
Ah, I suspect this is a mis-reading of my intention. For a good portion of my long response, I was speaking from the perspective of a standard Bayesian. Standard Bayesians have already decided what their utility is. I didn’t intend that part as my “real response”. Indeed, I intended some of it to sound a bit absurd. However, a lotta folks round here are real fond of Bayes, so articulating “the bayesian response” seems relevant.
If you’d wanted to forestall that particular response, in writing the piece, I suppose you could have been more explicit about which arguments are Bayesian, and which are explicitly anti-Bayesian (IE Peters), and where you fall wrt accepting Bayesian / anti-Bayesian assumptions. Partly I thought you might be pretty Bayesian and would take “Bayesians wouldn’t accept this argument” pretty seriously. (Although I also had probability on you being pretty anti-Bayesian.)
Yeah, I think I’m about to write a reply to your massive comment, but I think I’m getting closer to understanding. I think what I really need to do is write my “Kelly is Black-Scholes for utility” post.
I think that (roughly) this post isn’t aimed at someone who has already decided what their utility is. Most of the examples you didn’t like / saw as non-sequitor were explicitly given to help people think about their utility.
Ah, I suspect this is a mis-reading of my intention. For a good portion of my long response, I was speaking from the perspective of a standard Bayesian. Standard Bayesians have already decided what their utility is. I didn’t intend that part as my “real response”. Indeed, I intended some of it to sound a bit absurd. However, a lotta folks round here are real fond of Bayes, so articulating “the bayesian response” seems relevant.
If you’d wanted to forestall that particular response, in writing the piece, I suppose you could have been more explicit about which arguments are Bayesian, and which are explicitly anti-Bayesian (IE Peters), and where you fall wrt accepting Bayesian / anti-Bayesian assumptions. Partly I thought you might be pretty Bayesian and would take “Bayesians wouldn’t accept this argument” pretty seriously. (Although I also had probability on you being pretty anti-Bayesian.)