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RichardKennaway comments on Bayesian probability as an approximate theory of uncertainty? - Less Wrong Discussion

16 Post author: cousin_it 26 September 2013 09:16AM

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Comment author: RichardKennaway 26 September 2013 06:38:42PM 4 points [-]

I get that too. More generally, if there are n+1 rounds and on the first round the difference in probability between red and blue is z, then the optimal probability for choosing red is 1/2 + z/2n. It has to be close to 1/2 for large n, because 1/2 is optimal for the game where z=0, and over ten rounds the loss from deviating from 1/2 after the first round dominates the gain from knowing red is initially favoured.

Comment author: ESRogs 27 September 2013 08:32:23AM 1 point [-]

Sure that's not 1/2 + z/4n?

Comment author: Oscar_Cunningham 27 September 2013 09:47:20AM 1 point [-]

I think he meant "the difference between the probability of red and 1/2" when he said "the difference in probability between red and blue".

Comment author: RichardKennaway 27 September 2013 07:23:37PM 0 points [-]

Er, right, something like that.

Comment author: ESRogs 27 September 2013 03:22:19PM 0 points [-]

That works too.