Tom wrote: "I have a similar question abut the Kelly Criterion. Ultimately, it's utility that matters. The Kelly Criterion is applicable because it recognizes that money has diminishing marginal utility, but it's anybody's guess as to how accurately it estimates that utility."
I would say the Kelly Criterion is useful because it tells you how much you need to hold in reserve when dealing with probabilistic events. I wouldn't get hung up on the utility function of economics, but hey, if you want, you can go there.
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Posted by: nightoftheiguana2000@yahoo.com
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