/sci/ - Science & Math » Thread #14404323

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Name of this math problem.

Anonymous Sun 17 Apr 21:30:37 2022 No.14404323 View Reply Original Report

Quoted By: >>14404737

Is there a name for the following economic/math problem I can google?

A thing has a 1/10 chance of having 10 points.
B thing has 100 chance of having always a single point.
Which is better?

100% sure is some math ancient problem, but dunno the name to google it.

Anonymous

Anonymous Mon 18 Apr 2022 00:35:03 No.14404737 Report

Quoted By: >>14404814

>>14404323
https://en.m.wikipedia.org/wiki/Risk_aversion
https://en.m.wikipedia.org/wiki/Expected_utility_hypothesis

Sounds like expected utility theory, stuff to do with "certainty equivalents" and things like that. It's a part of Economics. This is the sort of thing behavioral economists deal with; things like risk aversion, whereby a participant prefers to have a sure payoff that is smaller than some payoff with higher expected value but which is uncertain. This kind of thing was done by a guy from the Bernoulli family centuries ago if thats what you refer to as "ancient".

Anonymous

Anonymous Mon 18 Apr 2022 01:07:16 No.14404814 Report

Quoted By: >>14406234

>>14404737
Thanks.

I made this thread because I can't decide if spending years on a unknown big project where they return is uncertain but there's a chance of multimillion USD dollar in terms of revuene.
Or making 5 or more projects that take less than one year, but the ROI is much lower.

Need some info on how do I determine which is the better path.

Anonymous

Anonymous Mon 18 Apr 2022 14:47:29 No.14406234 Report

Quoted By:

>>14404814
not sure you can apply the theory. Just follow your gut I'd say.

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