“Situations of uncertainty and intractability rule out optimization and, along with it, the usefulness of the theory of maximizing subjective expected utility.” Gerd Gigernzer, November 2024. The r…| Convex Strategies
“…if you want utility, don’t optimize expected utility because you’re bound to lose actual utility.” Ole Peters and Oliver Hulme, May 2025. Expected-utility maximizers don’t maximize utility. – Erg…| Convex Strategies
“We are open to new ideas and critical feedback and will take onboard lessons from the last five years and adapt our approach where appropriate to best serve the American people, to whom we are acc…| Convex Strategies
“Europe’s fundamental values are prosperity, equity, freedom, peace and democracy in a sustainable environment. The EU exists to ensure that Europeans can always benefit from these fundamental righ…| Convex Strategies
To the best of its knowledge and belief, Convex Strategies considers the information contained in this website as accurate only as at the date of publication. All information and opinions on this w…| Convex Strategies
“Mainstream economics is replete with ideas that “everyone knows” to be true, but that are actually arrant nonsense.” Jeremy Rudd. Federal Reserve Board. September 2021. We don’t often go looking f…| Convex Strategies
Last month we titled our Update “Recession. Yay!” in which we said this: “As we have stated over recent months, the ‘good outcome’ would be to get to the recession, and we see people willingly buy …| Convex Strategies