gmweinberg comments on Information cascades - Less Wrong
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Comments (32)
The confusion is because you are trying to do two contradictory things with your "vote". If the goal is to inform future readers as to whether a post is high quality or low quality, clearly you should just give your personal assessment. The only reason you'd take priors into account was if your "vote" was actually a "bet" and there was some advantage to "betting" correctly.
Lesson learned: If you want useful feedback, avoid making it a bet/competition.
But what about prediction markets?