It doesn’t matter whether you call your multiplier “probability” or “value” if it results in your decision to not care about low-measure branch. The only difference is that probability is supposed to be about knowledge, and Wallace’s argument involving arbitrary assumption, not only physics, means it’s not probability, but value—there is no reason to value knowledge of your low-measure instances less.
this makes decision theory and probably consequentialist ethics impossible in your framework
It doesn’t? Nothing stops you from making decisions in a world where you are constantly splitting. You can try to maximize splits of good experiences or something. It just wouldn’t be the same decisions you would make without knowledge of splits, but why new physical knowledge shouldn’t change your decisions?
It doesn’t matter whether you call your multiplier “probability” or “value” if it results in your decision to not care about low-measure branch. The only difference is that probability is supposed to be about knowledge, and Wallace’s argument involving arbitrary assumption, not only physics, means it’s not probability, but value—there is no reason to value knowledge of your low-measure instances less.
It doesn’t? Nothing stops you from making decisions in a world where you are constantly splitting. You can try to maximize splits of good experiences or something. It just wouldn’t be the same decisions you would make without knowledge of splits, but why new physical knowledge shouldn’t change your decisions?