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by FeepingCreature 1352 days ago
Notable: Kelly only works if you're playing a multi-round game.

Also careful; I believe money-to-utility is already logarithmic for most people. We don't have a good intuition for what "billions of utility vs 1 utility" represents.

1 comments

How can you have a game that isn't multi-round?

Surely after you finish playing one game, the next game you play (even if it's a completely different game) is the second round.

You have considered if the number of rounds is large enough. A weekly lottery doesn't have many rounds. A "huge jackpot" is even more rare.
> A weekly lottery doesn't have many rounds.

It doesn't if you're a house fly.

Average life expectancy at birth in OECD countries is around 4'000 weeks.