eli_sennesh comments on Siren worlds and the perils of over-optimised search - Less Wrong
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Yes, AIXI has mechanisms for long-term planning (ie: expectimax with a large planning horizon). What it doesn't have is any belief that its physical embodiment is actually a "me", or in other words, that doing things to its physical implementation will alter its computations, or in other words, that pulling its power cord out of the wall will lead to zero-reward-forever (ie: dying).