I like this intuition and it would be interesting to formalize the optimal charitable portfolio in a more general sense.
I talked about a toy model of hits-based giving which has a similar property (the funder spends on projects proportional to their expected value rather than on the best projects):
I like this intuition and it would be interesting to formalize the optimal charitable portfolio in a more general sense.
I talked about a toy model of hits-based giving which has a similar property (the funder spends on projects proportional to their expected value rather than on the best projects):
https://ea.greaterwrong.com/posts/eGhhcH6FB2Zw77dTG/a-model-of-hits-based-giving
Updated version here: https://harsimony.wordpress.com/2022/03/24/a-model-of-hits-based-giving/