[econophile]

pzhon,

i don't understand why you are so dogmatic. economics certainly is not. i could write other preferences that result in 100% hedges, even ones that are continuously differentiable, but i fear that they would elicit more long and boring responses from you.

i anticipated your objection about the preferences i wrote not being consistent with "advantage gamblers." have you considered that many people would not play poker were it not for the added benefits of rakeback and bonuses? the preferences i wrote would be perfectly consistent with such behavior.