MBlume comments on Buy Now Or Forever Hold Your Peace - Less Wrong

21 Post author: Eliezer_Yudkowsky 04 February 2008 09:42PM

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Comment author: MBlume 06 August 2012 03:49:29PM 1 point [-]

Insurance adds liquidity to the market. Someone has to pay the speculators a premium for being right, and sometimes that's the insurance-buyers. Higher premiums for speculators -> better quality speculation.