novalis comments on Why We Can't Take Expected Value Estimates Literally (Even When They're Unbiased) - Less Wrong

75 Post author: HoldenKarnofsky 18 August 2011 11:34PM

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Comment author: novalis 18 August 2011 09:26:19PM 1 point [-]

I think I specifically said that variance matters. I'll also say that your application matters -- when choosing beers, I would be OK with p much worse than 0.05 since I can afford to order another beer. When choosing charities, it is a harder question.