How do you deal with the problem that in an infinite setting, expected values do not always exist? For example, the Cauchy distribution has no expected value. Neither do various infinite games, e.g. St Petersburg with payouts of alternating sign. Even if you can handle Inf and -Inf, you’re then exposed to NaNs.
Thanks for responding. As I said, the measure of satisfaction is bounded. And all bounded random variables have a well-defined expected value. Source: Stack Exchange.
How do you deal with the problem that in an infinite setting, expected values do not always exist? For example, the Cauchy distribution has no expected value. Neither do various infinite games, e.g. St Petersburg with payouts of alternating sign. Even if you can handle Inf and -Inf, you’re then exposed to NaNs.
Thanks for responding. As I said, the measure of satisfaction is bounded. And all bounded random variables have a well-defined expected value. Source: Stack Exchange.