AlexMennen comments on Why We Can't Take Expected Value Estimates Literally (Even When They're Unbiased) - Less Wrong
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Comments (249)
Agreed. Most of the arguments seem to roughly be of the form, "in situation X, one could naively estimate an EEV of Y, but a more accurate EEV would actually be Z. Now I'll refer to Y as the EEV so that I can criticize EEV for not giving the answer Z."