ToKCast cover image

Ep 130: Steven Pinker’s ”Rationality” Ch 6 ”Risk and Reward” (Rational Choice & Expected Utility). Analysis.

ToKCast

00:00

The Fifth Axis of Probability Calculus

The axiom simply says that a decider faced with a series of uncertain choices works out the overall uncertainty, according to laws of uncertainty. Pinker: A very confused way of thinking about real life outside of the casino where we don't know what the probabilities are. The calculations need not be conscious or with numbers. They can be sensed and combined as analogue feelings. Then the decider should pick the option with the highest expected utility that is guaranteed to make the decider rational.

Play episode from 42:17
Transcript

The AI-powered Podcast Player

Save insights by tapping your headphones, chat with episodes, discover the best highlights - and more!
App store bannerPlay store banner
Get the app