Phil, I think you’re interpeting his claim too literally (relative to his intent).
He is only trying to help people who have a psychological inability to discount small probabilities appropriately.
Certainly if the lottery award grows high enough, standard decision theory implies you play
….this is one of the pascal’s mugging variants (similarly, whether to perform hypothetical exotic physics experiments with small probability of yielding infinite (or just extremely large) utility and large probability of destroying everything) which is not fully resolved for any of us, I think.
If a gun were put to my head and I had to decide right now, I agree with your irritation. However, he did make an interesting
point about public disrespect as a means of deterrence which deserves more thinking about. If that method looks promising after further inspection, we’d probably want
to reconsider its application to this situation, though it’s still unclear to me to what extent it applies in this case.
There’s also the consideration of total time expenditures on my part. Since the main reason I don’t respond at length to Goetz is his repeated behaviors that force me to expend large amounts of time or suffer penalties, elaborate time-consuming courtesies aren’t a solution either.
Phil, I think you’re interpeting his claim too literally (relative to his intent). He is only trying to help people who have a psychological inability to discount small probabilities appropriately. Certainly if the lottery award grows high enough, standard decision theory implies you play ….this is one of the pascal’s mugging variants (similarly, whether to perform hypothetical exotic physics experiments with small probability of yielding infinite (or just extremely large) utility and large probability of destroying everything) which is not fully resolved for any of us, I think.
You’re probably right. But I’m still irritated that instead of EY saying, “I didn’t say exactly what I meant”, he is sticking to “Phil is stupid.”
If a gun were put to my head and I had to decide right now, I agree with your irritation. However, he did make an interesting point about public disrespect as a means of deterrence which deserves more thinking about. If that method looks promising after further inspection, we’d probably want to reconsider its application to this situation, though it’s still unclear to me to what extent it applies in this case.
There’s also the consideration of total time expenditures on my part. Since the main reason I don’t respond at length to Goetz is his repeated behaviors that force me to expend large amounts of time or suffer penalties, elaborate time-consuming courtesies aren’t a solution either.
Agreed
Yup.