(( Way way off now ...
On Feb 20, 2014, at 11:49 AM, Neil Toronto wrote: > Decision theory and economics are dominated by the idea that making choices > to maximize expected values is the best thing to do. Linearity, BTW, is what > makes expected value popular. I think economists/decision theory people have always understood that this is a 'local' and 'near term horizon' maximum that they are talking about. They discount the future steeply for this purpose. But yes, they have been baffled for a while, which is why behavioral economics and decision making is emerging. And part of the bafflement has always been that even linearity can lead to unstable behavior in some economic models. )) ____________________ Racket Users list: http://lists.racket-lang.org/users
