Would he take the 51:49 bet repeatedly, as “maximise EV” might suggest? Why / why not?
(I skimmed some of his series on EV but want to reread.)
https://joecarlsmith.com/2022/03/18/on-expected-utility-part-2-why-it-can-be-ok-to-predictably-lose
Would he take the 51:49 bet repeatedly, as “maximise EV” might suggest? Why / why not?
(I skimmed some of his series on EV but want to reread.)
https://joecarlsmith.com/2022/03/18/on-expected-utility-part-2-why-it-can-be-ok-to-predictably-lose