EDIT: I did as asked, and replied without reading your comments on the EA forum. Reading that I think we are actually in complete agreement, although you actually know the proper terms for the things I gestured at.
Cool, thanks for reading my comments and letting me know your thoughts!
I actually just learned the term “aleatory uncertainty” from chatting with Claude 3.5 Sonnet (New) about my election forecasting in the last week or two post-election. (Turns out Claude was very good for helping me think through mistakes I made in forecasting and giving me useful ideas for how to be a better forecaster in the future.)
I then ask, knowing what you know now, what probability you should have given.
Sounds like you might have already predicted I’d say this (after reading my EA Forum comments), but to say it explicitly: What probability I should have given is different than the aleatoric probability. I think that by becoming informed and making a good judgment I could have reduced my epistemic uncertainty significantly, but I would have still had some. And the forecast that I should have made (or what market prices should have been is actually epistemic uncertainty + aleatoric uncertainty. And I think some people who were really informed could have gotten that to like ~65-90%, but due to lingering epistemic uncertainty could not have gotten it to >90% Trump (even if, as I believe, the aleatoric uncertainty was >90% (and probably >99%)).
Cool, thanks for reading my comments and letting me know your thoughts!
I actually just learned the term “aleatory uncertainty” from chatting with Claude 3.5 Sonnet (New) about my election forecasting in the last week or two post-election. (Turns out Claude was very good for helping me think through mistakes I made in forecasting and giving me useful ideas for how to be a better forecaster in the future.)
Sounds like you might have already predicted I’d say this (after reading my EA Forum comments), but to say it explicitly: What probability I should have given is different than the aleatoric probability. I think that by becoming informed and making a good judgment I could have reduced my epistemic uncertainty significantly, but I would have still had some. And the forecast that I should have made (or what market prices should have been is actually epistemic uncertainty + aleatoric uncertainty. And I think some people who were really informed could have gotten that to like ~65-90%, but due to lingering epistemic uncertainty could not have gotten it to >90% Trump (even if, as I believe, the aleatoric uncertainty was >90% (and probably >99%)).