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talisman comments on Contests vs. Real World Problems - Less Wrong
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The fear and hatred of gambling. Contra Tyler Cowen, betting your beliefs is one of the best paths to both individual and group rationality. You should be doing it twice a day, like brushing your teeth. The beliefs that don't get bet get cavities and rot; the beliefs that are unbettable create unbreakable deadlocks that later require ophtalmological intervention. Bet!
One warning though: Gambler's ruin is very possible with betting systems, even if your strategy has a positive expected value.