The companies that make many billions of dollars are not necessarily the ones that maximize expected utility; they’re the ones that get immense payoffs even if they had to take absurd risks to manage it. Many companies fail for taking similar risks.
The companies that make many billions of dollars are not necessarily the ones that maximize expected utility; they’re the ones that get immense payoffs even if they had to take absurd risks to manage it. Many companies fail for taking similar risks.