

When min-max is wrong - TriinT
http://rjlipton.wordpress.com/2009/06/06/when-min-max-is-wrong/

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GavinB
If you convert the dollar amounts to the actual value that the players will
experience, then the problem dissolves.

Adjusting for the marginal utility of dollars at various levels of wealth
should make this whole problem a non-issue. Am I missing something?

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jrp
I'm sure that losing $X, where X is large compared to your wealth, is
generally a bigger event than gaining $X in terms of utility. But can't we
always repeat the argument so that the game is fair when measured in utility?

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GavinB
Yes, but once you've done so the problem loses the property of having one set
that is preferable to the others.

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ewjordan
It's also generally impossible to make a non-trivial game both zero sum in
dollars and zero sum in utility, when using a non-trivial dollar->utility
conversion.

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dave_au
A little off-topic, but it's made my day seeing one of Lipton's posts on the
front page.

It only started relatively recently and it's been a really good computational
complexity blog so far.

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carterschonwald
Yeah, I have to agree. It does a wonderful job of doing very loving mini
expositions on a whole slew of topics, and doing so at regular intervals!

