PhilGoetz comments on Exterminating life is rational - Less Wrong
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Actually, if you think of the paradox below in these terms, as being one where you're offered vague, unmeasurable rewards, it ceases to be a paradox. It's only a paradox because we've abstracted those confusing issues away.
It is a puzzle that is meant to get at the question of whether our mathematical models of rationality are correct. If you're not talking about mathematical models, you're having a different conversation.