Semantically, you can have “meaningful” information that only means your own subjective impression, and “estimates” that estimate exactly the same thing, and so on.
That’s not addressing the actual point. The point is not to exploit the vagueness of the English language. You wouldn’t accept monopoly money as payment even though it says “money” in the name.
You are kind of implying that it’s unfair of Knightians to reject subjective estimates because they have greater than zero value...but why shouldn’t they be entitled to set the threshold somewhere above eta?
Here’s a quick argument: there’s eight billion people, they’ve all got opinions, and I have not got the time to listen to them all.
Semantically, you can have “meaningful” information that only means your own subjective impression, and “estimates” that estimate exactly the same thing, and so on.
That’s not addressing the actual point. The point is not to exploit the vagueness of the English language. You wouldn’t accept monopoly money as payment even though it says “money” in the name.
You are kind of implying that it’s unfair of Knightians to reject subjective estimates because they have greater than zero value...but why shouldn’t they be entitled to set the threshold somewhere above eta?
Here’s a quick argument: there’s eight billion people, they’ve all got opinions, and I have not got the time to listen to them all.
I’m not sure what you mean.