It’s possible for an argument to fail to consider some evidence and so mislead, but this isn’t a problem with expected utility maximisation, it’s just assigning an incorrect distribution for the marginal utilities. Certainly overly formal analyses can fail for real-world problems, but half-Bayesian ad-hoc mathematics won’t help.
This was exactly my initial reaction to Holden’s post. But either myself or somebody else needs to explain this response in more detail.
This was exactly my initial reaction to Holden’s post. But either myself or somebody else needs to explain this response in more detail.