Non-affine transformations break expected utility of lotteries over outcomes.
Ah. I was thinking of utility-as-a-thing-in-the-world (e.g. a pleasurable mental state) rather than utility-as-representation-of-preferences-over-gambles. (The latter would not be my preferred informational base for determining a fair outcome.)
Non-affine transformations break expected utility of lotteries over outcomes.
Ah. I was thinking of utility-as-a-thing-in-the-world (e.g. a pleasurable mental state) rather than utility-as-representation-of-preferences-over-gambles. (The latter would not be my preferred informational base for determining a fair outcome.)