Hi, would be appreciated if anyone can assist on this. On page 18 of Chapter 1 Decision Theory, It was mentioned that "The value of the game (the expected risk) is 33p. This is the value of both of the expected loss functions when p=2/3." I was wondering how to obtain this figure? thanks a lot.
Apologies maychiy - your post slipped through and didn't get answered. In short, we simply substitute p=2/3 into either of the two loss functions (1-p or ½p) and we'll get £0.33 = 33p as it says.
