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gwern comments on Information theory and FOOM - Less Wrong
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Do you mean "at higher IQ values each additional point corresponds to less and less additional (expected) intelligence" or "at higher IQ values each additional point corresponds to less and less total intelligence"?
I mean the former - diminishing returns in measured intelligence (IQ) versus actual intelligence.
(I definitely am not saying that IQ points are uncorrelated with actual intelligence at some point, or inversely correlated!)