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michael_vassar comments on Probability is in the Mind - Less Wrong

60 Post author: Eliezer_Yudkowsky 12 March 2008 04:08AM

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Comment author: michael_vassar 14 March 2008 04:14:00AM 0 points [-]

I second tabooing probability, but I think that we need more than two words to replace it. Casually, I think that we need, at the least, 'quantum measure', 'calibrated confidence', and 'justified confidence'. Typically we have been in the habit of calling both "Bayesian", but they are very different. Actual humans can try to be better approximations of Bayesians, but we can't be very close. Since we can't be Bayesian, due to our lack of logical omniscience, we can't avoid making stupid bets and being Dutch Booked by smarter minds. It's therefore disingenuous to claim that vulnerability to Dutch Books is a decisive argument against a behavioral strategy. Calibrated confidence is the strategy that we can try to use to minimize our vulnerability to being Dutch Booked by people who aren't smarter than we are but who know exploits in our heuristics. They tend to be much much closer to 50% than Bayesian confidences, and are pretty much unavoidably subject to some framing based biases as a result.