Timeline for Expected value as decision criterion in the context of rare events
Current License: CC BY-SA 2.5
3 events
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| Jan 1, 2011 at 0:11 | comment | added | Deane Yang | To me, expected value is useful only in its original context, when you get to do repeated independent trials and want an idea of how well you'll do. I don't see how it's useful for deciding whether to bet on a rare event or not unless you plan to make it a regular habit. Or is that what you're referring to? | |
| Dec 31, 2010 at 22:49 | comment | added | JSE | I opened a thread on my blog about this if people want to talk about the question without committing to supplying an answer per se: quomodocumque.wordpress.com/2010/12/31/… | |
| Dec 31, 2010 at 21:41 | history | answered | JSE | CC BY-SA 2.5 |