Very close! It’s more the difference between average impact and a weighted average of the marginal impact, weighted by probability. Did that answer your question?
It’s unintuitive to me since I would normally just think about marginal impact,but it makes sense. What is the uncertainty over? Is it uncertainty about V(n)?
Very close! It’s more the difference between average impact and a weighted average of the marginal impact, weighted by probability. Did that answer your question?
It’s unintuitive to me since I would normally just think about marginal impact,but it makes sense. What is the uncertainty over? Is it uncertainty about V(n)?
It’s over E(Vh(N+1)−(Vh(N)). How should I make this clearer in my article?