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PhilGoetz comments on Rationality quotes: April 2010 - Less Wrong
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It is only wrong not to update.
And, of course the priors must be updated the correct way.
Nonetheless, it is greatly preferable to have a prior that led to decisions that gave high utility, rather than one that led to decisions that gave low utility. Of course this can't be measured "before hand". But the whole point of updating is to get better priors, in this exact sense, for the next round of decisions and updates.