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Forum: News, Views, and Gossip

06-04-2007, 08:24 AM

Replies: 120

Stupidly Gambling For Millions Is Admirable?

Views: 1,206

Posted By mojed

Re: Stupidly Gambling For Millions Is Admirable?

[ QUOTE ]
I didn't say they "should" however, I just mentioned an ethical framework (utilitarianism) which would support that.

[/ QUOTE ]

Actually, I did say they should, but I covered my...

Forum: News, Views, and Gossip

06-04-2007, 07:11 AM

Replies: 120

Stupidly Gambling For Millions Is Admirable?

Views: 1,206

Posted By mojed

Re: Stupidly Gambling For Millions Is Admirable?

[ QUOTE ]
[ QUOTE ]
This is because +ve utility derived from winning is greater in magnitude than -ve utility resulting from losing (though rake plays a role too).

[/ QUOTE ]

Wrong again. Do...

Forum: News, Views, and Gossip

06-02-2007, 10:05 AM

Replies: 120

Stupidly Gambling For Millions Is Admirable?

Views: 1,206

Posted By mojed

Re: Stupidly Gambling For Millions Is Admirable?

Insurance = redistribution.

But with the bets being 0 EV (but much variance), they don't redistribute in a determined way, so they only add to a poker player's income variance, not reduce it.
...

Forum: News, Views, and Gossip

05-30-2007, 09:49 PM

Replies: 120

Stupidly Gambling For Millions Is Admirable?

Views: 1,206

Posted By mojed

Re: Stupidly Gambling For Millions Is Admirable?

I’m not sure that I have a problem with this sort of high stakes gambling between high stakes gamblers, because it seems to me that when professional gamblers gamble with one another, money is no...

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