chicken@lemmy.dbzer0.com to Comic Strips@lemmy.world · 8 days agoSaturday Morning Breakfast Cereal - EVlemmy.dbzer0.comimagemessage-square2linkfedilinkarrow-up15arrow-down10file-text
arrow-up15arrow-down1imageSaturday Morning Breakfast Cereal - EVlemmy.dbzer0.comchicken@lemmy.dbzer0.com to Comic Strips@lemmy.world · 8 days agomessage-square2linkfedilinkfile-text
minus-squareWolfLink@sh.itjust.workslinkfedilinkarrow-up1·8 days agoYou can still reason about expected value in this situation, just $ is not really what you want to optimize for. When you view it as “100% chance of being able to afford anything” vs “50% chance of being able to afford anything” it becomes more clear.
minus-squareJackbyDev@programming.devlinkfedilinkEnglisharrow-up1·8 days agoYeah, it’s obviously logarithmic or something. There is diminishing value in money. I think the way you put it makes it very intuitive though.
You can still reason about expected value in this situation, just $ is not really what you want to optimize for.
When you view it as “100% chance of being able to afford anything” vs “50% chance of being able to afford anything” it becomes more clear.
Yeah, it’s obviously logarithmic or something. There is diminishing value in money. I think the way you put it makes it very intuitive though.