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Lumifer comments on The Power of Noise - Less Wrong
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I'm not sure what you're driving at here. A gambling system where everybody has a net expected gain is still a good use of randomness.
So what's the difference between a market where you can buy a chance to get some asset for cash, and a casino where you can buy a chance to get some asset for cash? You have non-coerced humans doing voluntary transactions in both of them.
Don't forget that you still need a counterparty in the markets.