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Alsadius comments on Je suis Charlie - Less Wrong
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The method is "set your prior probability equal to society's judgement of its probability". For anything where society as a whole has an opinion at all, it's a better approximation than any other one-piece-of-evidence method around, and is thus a great way to set your priors.
As a general statement, this doesn't seem to be true. I am also not quite sure what -- in real life -- is a "one-piece-of-evidence method".