The above example had no consistent (real valued) utility function regardless off my 100M@.99999 vs. 100B@.99997 preference.
BTW, whatever would that preference be (I am a bit unsure, but I think I’d still take the 100M as not doing so would triple my chances of losing it) I did not really get the conclusion of the essay. At least I could not follow why being money-pumped (according to that definition of “money pumped”) is so undesirable from any rational point of view.
The above example had no consistent (real valued) utility function regardless off my 100M@.99999 vs. 100B@.99997 preference.
BTW, whatever would that preference be (I am a bit unsure, but I think I’d still take the 100M as not doing so would triple my chances of losing it) I did not really get the conclusion of the essay. At least I could not follow why being money-pumped (according to that definition of “money pumped”) is so undesirable from any rational point of view.