= 27d567bc2d48d9f40e9ccc20ea370b15)
RolfAndreassen comments on Open Thread, November 8 - 14, 2013 - Less Wrong Discussion
You are viewing a comment permalink. View the original post to see all comments and the full post content.
= 783df68a0f980790206b9ea87794c5b6)
Loading…= b715d02e85f7b3b4ae65ca3d3e450868)
Subscribe to RSS Feed
Powered by Reddit
= f037147d6e6c911a85753b9abdedda8d)
You are viewing a comment permalink. View the original post to see all comments and the full post content.
Comments (141)
A fair coin is maximally entropic. There is no skill that will let you do anything with sheer chaos.
I think it is better to say that bet on offer is fair. It is not a property of just the coin, but also of the bet. We do not notice that there is a choice of bet because it is even odds (which corresponds to max ent), but for any weighted coin there is a corresponding fair bet.
Fair bets do have lots of special properties, but we would have the same situation if a correct choice of tails paid 1 and a correct choice of heads paid 2: Alice and Bob would both always bet H. (except in the 1/1000 chance that we start with 10 Ts and Alice updates wrongly; but the asymptotics are the same)