This doesn’t seem like much, but it gets extremely weird when you consider that the limit of a logical inductor, P_∞, is a constant distribution, and by this result, isn’t a logical inductor! If you skip to the end and use the final, perfected probabilities of the limit, there’s a trader that could rack up unboundedly high value!
This post by Alex Appel made me much more skeptical about the logical induction approach: