Thanks. I think I need to dive deeper into the mathematical definition to understand this. It seems to me that counterfactual value is not as well defined.
the second one leads to better outcomes (more lives saved in expected value)
Short objection: it is not necessarily true that higher expected value = better. For example, in this scenario for low enough risk tolerance the first scenario would be better.
Thanks. I think I need to dive deeper into the mathematical definition to understand this. It seems to me that counterfactual value is not as well defined.
Short objection: it is not necessarily true that higher expected value = better. For example, in this scenario for low enough risk tolerance the first scenario would be better.