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Eric6 comments on Markets are Anti-Inductive - Less Wrong
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Doesn't this mean that once everyone realizes that markets are anti-inductive, markets will become inductive?
No, "markets are anti-inductive" means "markets act to lower the Bayes-score of low-entropy probability distributions over future asset prices".
If people realize that markets are anti-inductive, that doesn't cause their belief state about future asset prices to have less entropy. On the contrary, it makes them think twice before entering a low-entropy belief state.
Well, of course! After all, it never worked before...