An entry-level characterization of some types of guy in decision theory, and in real life, interspersed with short stories about them

A concave function bends down. A convex function bends up. A linear function does neither.

A utility function is just a function that says how good different outcomes are. They describe an agent's preferences. Different agents have different utility functions.

Usually, a utility function assigns scores to outcomes or histories, but in article we'll define a sort of utility function that takes the quantity of resources that the agent has control over, and the utility function says how good an outcome the agent could attain using that quantity of resources.

In that sense, a concave agent values resources less the more that it has, eventually barely wanting more resources at all, while a convex agent wants more resources the more it has. But that's a rough and incomplete [...]

The original text contained 1 footnote which was omitted from this narration.

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Narrated by TYPE III AUDIO.