Greentext

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This is a place to share greentexts and witness the confounding life of Anon. If you're new to the Greentext community, think of it as a sort of zoo with Anon as the main attraction.

Be warned:

Anon is often crazy.
Anon is often depressed.
Anon frequently shares thoughts that are immature, offensive, or incomprehensible.

If you find yourself getting angry (or god forbid, agreeing) with something Anon has said, you might be doing it wrong.

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Early_To_Risa@sh.itjust.works

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Anon's father is smart (sh.itjust.works)

submitted 11 months ago by Early_To_Risa@sh.itjust.works to c/greentext@sh.itjust.works

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[–] steventhedev@lemmy.world 6 points 11 months ago (5 children)

If the expected value is positive, then by all means you should play the lottery. Just bear in mind that the utility of money is nonlinear, so Kelly will overextend you - use something like max log-value and rederive.

The only time this happens are either scratch off tickets that are horribly broken or rolling-jackpot lotteries where you can win what other people put in before you.

[–] archon@sh.itjust.works 4 points 11 months ago (2 children)

Just bear in mind that the utility of money is nonlinear, so Kelly will overextend you - use something like max log-value and rederive.

I'm too stupid to piece together what this means, but I'm interested.

Kelly is a betting stake formula? But deriative of max log-value will provide a better result?

[–] clara@feddit.uk 2 points 11 months ago

i got you, watch this for understanding of kelly criterion

https://www.youtube.com/watch?v=_FuuYSM7yOo

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