I want to take a moment to highlight the importance of payoff dominance through the lens of expected value. Xandamere provided an amazing analogy regarding the premise of expected value (EV) when he joined me on the Game Theory in Best Ball podcast. I’m going to use that same example and provide the math behind the assertion to highlight the importance of EV. Let’s say, for example, 10 players offer up $10 to select between two outcomes of a flipped coin. This coin is a magic coin, one that lands on heads 75% of the time. A risk . . .
