HBDfan comments on The Virtue of Narrowness - Less Wrong

56 Post author: Eliezer_Yudkowsky 07 August 2007 05:57PM

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Comment author: Chrysophylax 29 January 2013 07:21:43PM -1 points [-]

Large corporations are not really very like AIs at all. An Artificial Intelligence is an intelligence with a single utility function, whereas a company is a group of intelligences with many complex utility functions. I remain unconvinced that aggregating intelligences and applying the same terms is valid - it is, roughly speaking, like trying to apply chromodynamics to atoms and molecules. Maximising shareholder value is also not a simple problem to solve (if it were, the stock market would be a lot simpler!), especially since "shareholder value" is a very vague concept. In reality, large corporations almost never seek to maximise shareholder value (that is, in theory one might, but I can't actually imagine such a firm). The relevant terms to look up are "satisficing" and "principal-agent problem".

This rather spoils the idea of firms being intelligent - the term does not appear applicable (which is, I think, Eliezer's point).

Comment author: HBDfan 28 April 2013 03:58:01PM 1 point [-]

Corporations do not have utility function, or they do not have a single utility function. They have many utility functions. You might "money pump" the corporation.