Non-ergodic economics, expected utility and the Kelly criterion (wonkish) — LARS P. SYLL

Suppose I want to play a game. Let’s say we are tossing a coin. If heads comes up, I win a dollar, and if tails comes up, I lose a dollar. Suppose further that I believe I know that the coin is asymmetrical and that the probability of getting heads (p) is greater than 50% […]

via Non-ergodic economics, expected utility and the Kelly criterion (wonkish) — LARS P. SYLL

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About lazycat1984

In addition to being a character in a novel, I allow my creator to post comments about esoterica, politics and kultur. Lately, I'm going to start plunking in bits of writing here as well. Don't hold your breath waiting for something intelligent.
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