Douglas_Knight2 comments on The Majority Is Always Wrong - Less Wrong

26 Post author: Eliezer_Yudkowsky 03 April 2007 01:12AM

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Comment author: Douglas_Knight2 04 April 2007 01:52:38AM 0 points [-]

the argument about how noise traders survive

Surely the argument you give--that false beliefs can lead to extra risk, increasing expected returns while decreasing expected utility--is older than the noise trader literature?