How effective is Dodge?

Hello fellow monks,

When talking about EHP, all i hear is Health, AR, and Armor. Nobody even mention Dodge at all. Is Dodge really useless? Can any1 enlightened me with the math and what the things that cannot be dodge? Thxs.
I see many people complaining that the dodge bonus of mantra of evasion and other evasion boosting skills are not added correctly. For example many may think that for a base dodge% of 30% from dexterity, having Mantra of Evasion active should boost your dodge% to 45% but instead you get only 40.5%.

The formula for how this is worked out is as follows:
let f0 = base dodge%, f1 = final dodge% and d1 = dodge boost% from skill then

f1 = f0 + (100-f0)*d1/100
= f0*(1 - d1/100) + d1.

eg. For a base dodge% f0 = 30% with Mantra of Evasion boost d1 = 15% then

f1 = 30*(1-15/100) + 15= 40.5%

Now what happens if you have another dodge boost skill/item active with a boost% of d2? The formula is still the same as above but now f1 becomes your new base dodge% and let's call f2 = final dodge% then

f2 = f1*(1-d2/100) + d2
= [f0*(1-d1/100) + d1]*(1-d2/100) + d2
= f0*(1-d1/100)*(1-d2/100) + d1*(1-d2/100) + d2

and similarly for a 3rd dodge boost d3

f3 = f0*(1-d1/100)*(1-d2/100)(1-d3/100) + d1*(1-d2/100)(1-d3/100) + d2(1-d3/100) + d3

A general formula for an arbitrary number of boosts n is shown in the image link since I can't type it out here

The above formula is intended so one could never reach 100% dodge.

An Example:
For a dual wielding Monk with a dexterity of 1339 which gives him a base dodge% of 33.6% then with Mantra of Evasion, The Guardian's Path passive skill and a War Cry with Vetern's Warning rune from a Babarian friend (each giving 15% dodge boost) then your final dodge% is

f3 = 33.6*(1-15/100)^3 + 15*(1-15/100)^2 + 15(1-15/100) + 15
= 59.2%

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