Superficial stylistic remarks (as you'll see, I've only looked at about the first 1/4 of the paper):
The paper repeatedly uses the word "agency" where "agent" would seem more appropriate.
I agree with paper-machine that the mini-biography of I J Good has little value here.
The remark in section 1 about MIRI being funding-limited is out of place and looks like a whine or a plea for more money. Just take it out.
"albeit" on page 10, shortly before footnote 8, should just be "but". (Or maybe "even though", if that's your meaning.) [EDITED to add: there's another "albeit" that reads oddly to me, in footnote 66 on page 50. It's not wrong, but it feels odd. Roughly, wherever you can correctly write "albeit" you can equivalently write "even though", and that's a funny thing to be starting a footnote with.]
"criteria" in footnote 11 about paperclip maximizers should be "criterion".
In footnote 15 (about "g") the word "entrants" seems very weirdly chosen, and the footnote seems to define g as the observed correlation between different measures of intelligence, which is nonsense.
The premise of the paper is that whether or not intelligence explosion will occur is (or at least is being pretended to be) an open question. But at many points within the paper there are references to "the intelligence explosion" that seem to presuppose that there will in fact be one.
Footnote 23 puts "Wikipedia" in italics, which to my eyes looks very strange.
[EDITED to incorporate a comment I made separately, which I'll now retract.]
I agree with paper-machine that the mini-biography of I J Good has little value here.
Done.
The remark in section 1 about MIRI being funding-limited is out of place and looks like a whine or a plea for more money. Just take it out.
Done.
Summary: Intelligence Explosion Microeconomics (pdf) is 40,000 words taking some initial steps toward tackling the key quantitative issue in the intelligence explosion, "reinvestable returns on cognitive investments": what kind of returns can you get from an investment in cognition, can you reinvest it to make yourself even smarter, and does this process die out or blow up? This can be thought of as the compact and hopefully more coherent successor to the AI Foom Debate of a few years back.
(Sample idea you haven't heard before: The increase in hominid brain size over evolutionary time should be interpreted as evidence about increasing marginal fitness returns on brain size, presumably due to improved brain wiring algorithms; not as direct evidence about an intelligence scaling factor from brain size.)
I hope that the open problems posed therein inspire further work by economists or economically literate modelers, interested specifically in the intelligence explosion qua cognitive intelligence rather than non-cognitive 'technological acceleration'. MIRI has an intended-to-be-small-and-technical mailing list for such discussion. In case it's not clear from context, I (Yudkowsky) am the author of the paper.
Abstract:
The dedicated mailing list will be small and restricted to technical discussants.
This topic was originally intended to be a sequence in Open Problems in Friendly AI, but further work produced something compacted beyond where it could be easily broken up into subposts.
Outline of contents:
1: Introduces the basic questions and the key quantitative issue of sustained reinvestable returns on cognitive investments.
2: Discusses the basic language for talking about the intelligence explosion, and argues that we should pursue this project by looking for underlying microfoundations, not by pursuing analogies to allegedly similar historical events.
3: Goes into detail on what I see as the main arguments for a fast intelligence explosion, constituting the bulk of the paper with the following subsections:
4: A tentative methodology for formalizing theories of the intelligence explosion - a project of formalizing possible microfoundations and explicitly stating their alleged relation to historical experience, such that some possibilities can allegedly be falsified.
5: Which open sub-questions seem both high-value and possibly answerable.
6: Formally poses the Open Problem and mentions what it would take for MIRI itself to directly fund further work in this field.