Brian_Tomasik comments on International cooperation vs. AI arms race - Less Wrong
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Good point. :) With a pure CEV, it might converge to roughly the same thing. Where it could matter more is with a much more crude form of democracy determining the AI's values.
Also, if you're in a hurry to get the AI out the door before the other guy does, you don't have a lot of time for CEV or even for regular democratically made choices.