If you were offering, say, $100K at 5:1 odds, I would be very inclined to take it, despite the risk that e.g. next month’s X-Day finally delivers, because that would let me set in motion things that, according to me, have their own transformative potential. But I’m not sure about the value of these smaller sums.
Smaller sums are more likely to convey probabilities of each party accurately. For example, if Elon Musk offers me $5000 to split between two possible outcomes, I will allocate them close to my beliefs, but if he offers me 5mil, I’ll allocate about 2.5mil each because either one is a transformative amount of money.
People are more likely to be rational with their marginal dollar because of pricing in the value of staying solvent. The first 100k in my bank account IS worth more than the second, and so the saying, a non-marginal bird in the hand is worth two in the bush.
Are you suggesting that you currently have a double digit percentage that there’s clear evidence of some form of nonhuman intelligence in the next five years (which would warrent the 5:1 odds)?
Not at all. But for a credible bet, I have to have some chance of paying out my losses. On the basis of lifetime earnings so far, even $500K is really pushing it. Promising to pay millions if I lose is not credible.
If you were offering, say, $100K at 5:1 odds, I would be very inclined to take it, despite the risk that e.g. next month’s X-Day finally delivers, because that would let me set in motion things that, according to me, have their own transformative potential. But I’m not sure about the value of these smaller sums.
Smaller sums are more likely to convey probabilities of each party accurately. For example, if Elon Musk offers me $5000 to split between two possible outcomes, I will allocate them close to my beliefs, but if he offers me 5mil, I’ll allocate about 2.5mil each because either one is a transformative amount of money.
People are more likely to be rational with their marginal dollar because of pricing in the value of staying solvent. The first 100k in my bank account IS worth more than the second, and so the saying, a non-marginal bird in the hand is worth two in the bush.
Are you suggesting that you currently have a double digit percentage that there’s clear evidence of some form of nonhuman intelligence in the next five years (which would warrent the 5:1 odds)?
Not at all. But for a credible bet, I have to have some chance of paying out my losses. On the basis of lifetime earnings so far, even $500K is really pushing it. Promising to pay millions if I lose is not credible.