Is it an observation that expected utility maximization does not include risk management for free, just because it's "utility".

I'm still not sure which line you're taking on this: A) Disputing the VNM formulation of rational behavior that a rational agent should maximize expected utility (, or B) Disputing that we can write down an approximate utility function accurate enough to sufficiently capture our risk preferences.

Open thread, Apr. 18 - Apr. 24, 2016

by MrMind 1 min read18th Apr 2016176 comments


If it's worth saying, but not worth its own post (even in Discussion), then it goes here.

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