Data

Data people, what do you think about this representation? With perfect information there is no luck. Without any information there are equal proportions good and bad luck. And if you have exactly 50% of perfect information available you have exactly 25% of good luck to your disposal.

This is the alt account of Sister Hazel. Writings at https://powerlaw.systems.

I'm a little teapot who didn't fill out my bio

Yeah you are right. The underlying reality may be defined by rules or circumstances that are not random and then the whole assumption falls apart.

That is only the case when there is only 2 possible outcomes with equal probabilities like a coin toss right?

If there are more options with a random distribution it gets harder

Depends on the distribution of the thing...50% information may be all you need