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by c1ccccc1
336 days ago
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Would you also get triggered if you saw people make a bet at, say, $24 : $87 odds? Would you shout: "No! That's too precise, you should bet $20 : $90!"? For that matter, should all prices in the stock market be multiples of $1, (since, after all, fluctuations of greater than $1 are very common)? If the variance (uncertainty) in a number is large, correct thing to do is to just also report the variance, not to round the mean to a whole number. Also, in log odds, the difference between 5% and 10% is about the same as the difference between 40% and 60%. So using an intermediate value like 8% is less crazy than you'd think. People writing comments in their own little forum where they happen not to use sig-figs to communicate uncertainty is probably not a sinister attempt to convince "everyone" that their predictions are somehow scientific. For one thing, I doubt most people are dumb enough to be convinced by that, even if it were the goal. For another, the expected audience for these comments was not "everyone", it was specifically people who are likely to interpret those probabilities in a Bayesian way (i.e. as subjective probabilities). |
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No.
I responded to the same point here: https://news.ycombinator.com/item?id=44618142
> correct thing to do is to just also report the variance
And do we also pull this one out of thin air?
Using precise number to convey extremely unprecise and ungrounded opinions is imho wrong and to me unsettling. I'm pulling this purely out of my ass, and maybe I am making too much out of it, but I feel this is in part what is causing the many cases of very weird, and borderline associal/dangerous behaviours of some associated with the rationalists movement. When you try to precisely quantify what cannot be, and start trusting those numbers too much, you can easily be led to trust your conclusions way too much. I am 56% confident this is a real effect.