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whats Expected Utility?
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In economics,
utility is a measure of the happiness or satisfaction gained from a good or service.
The idea is, you might not be twice as happy with 2x$ as you are with $. For instance, if you offered me a coin flip for my rent money, I wouldn't take it, even if the coin was weighted 60/40 towards winning. It'd be +EV, but I lose SO much utility when I lose rent, it's a bad move.
-Sam
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Muchas Gracias Benholio and Sam.
I had always never wanted to use my own money to clear casino bonii for fear of losing it ... I now have a term to give this feeling.
-EU baby [img]/images/graemlins/smirk.gif[/img]