This argument is one that makes intuitive sense, and of course I am no exception to that intuition. However intuition is not the path to truth, logic is. Unless you can provide a logic-founded reason why almost certain loss with a minuscule chance of a huge win is worse than unlikely loss with a probable win, then I can’t accept the argument.
[Edit: If anyone is reading this and cringing please just know I wrote that when I was 16. I wouldn’t write like that now 😭]
That’s true but I think we need to make the least number of intuition based assumptions possible. Yitz’s suggestion adds an extra assumption ON TOP of expected value theory, so I would need a reason to add that assumption.Oops I got mixed up and that response related to a totally different comment. See my reply below for my actual response