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magfrump comments on Pascal's Mugging as an epistemic problem - Less Wrong Discussion

3 [deleted] 04 October 2010 05:52PM

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Comment author: magfrump 05 October 2010 07:50:19AM 2 points [-]

Loss aversion?

If there is a one in ten quadrillion chance of the mugger being honest, you are far more likely to have all your money taken from you by charlatans and then starve to death while homeless (thus losing your ability to even make the deal with an honest mugger!) than you are to meet an honest one before that.

Incentives?

If you give this mugger 10 bucks, then ANYONE IN THE WORLD can walk up to you and take 10 bucks from you as many times as they want using the same logic.

Comment author: magfrump 05 October 2010 07:57:04AM 2 points [-]

Assuming you have all the money in the world you are still 94.08% likely to run out of money before getting rewarded, assuming one in a quadrillion chance of winning for every $10 entered into this lottery.