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Oscar_Cunningham comments on Why We Can't Take Expected Value Estimates Literally (Even When They're Unbiased) - Less Wrong
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I'm surprised and confused by your comment. People have proposed lots of arguments against giving in to Pascal's Mugging, even within the standard Bayesian framework. (The simplest, for example, is that we actually have a bounded utility function.) I don't see how you could possibly say at this point that giving in is "clearly" beneficial.
Err, the post assumes that we have an unbounded utility function (or at least that it can reach high enough for Pascal's mugging to become relevant), and then goes on to propose what you call an approximation method that looks clearly wrong for that case.
Why clearly wrong?