Eliezer_Yudkowsky comments on How not to sort by a complicated frequentist formula - Less Wrong
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Yep. You'd want to check or guess the size of the user's monitor and where they were scrolling to, and calculate upvotes-per-actual-user-read. As things are read and not upvoted, your confidence that they're not super-high-value items increases and the value of information from showing them again diminishes.