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jmmcd comments on Zeckhauser's roulette - Less Wrong Discussion

11 Post author: cousin_it 19 January 2012 07:22PM

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Comment author: jmmcd 19 January 2012 10:57:45PM 2 points [-]

I think this answers your comment:

The only time actually estimating cost comes into play is when the risk change is small enough to be close to the noise level. For example, deciding whether to pay more for a safer car, because the improved collision survival odds increase your life expectancy by 1 day (I made up the number, not sure what the real value is).

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