Open Thread, April 27-May 4, 2014

NancyLebovitz

You know the drill - If it's worth saying, but not worth its own post (even in Discussion), then it goes here.

And, while this is an accidental exception, future open threads should start on Mondays until further notice.

You know the drill - If it's worth saying, but not worth its own post (even in Discussion), then it goes here.

And, while this is an accidental exception, future open threads should start on Mondays until further notice.

You're right. Gaming the system is feasible, though I believe it is very low-value.

What exactly would the point of gaming a prediction thread be? The only point-keeping would be informal, so if you're making a bunch of points off of idiotic puppets bets it's still visible as because you were up against an idiotic bet. It'd be like lying on the group diary, almost.

Do note, there was actually a HUGE punishment for losing. You could get into the negative pretty easily by being stupidly overconfident. The scoring was 100 × log2(Your probability of outcome/Previous Bet probability of outcome).. For example: if you updated a 50% house bet to 99% being correct would give you 98.55 "bits", while being wrong would give you -564.39

Do note, there was actually a HUGE punishment for losing.

Only to the extent that you care about points, whereas the winner was given a tangible prize (in my case, a book).

Actually, I'm now remembering that that isn't entirely true: there was a prize for the person with most points, but also a prize that was assigned randomly, weighted according to ((player points) - (least number of points of any player) + 1), or something. So the more you lose by, the less chance you have of winning that prize. But if you're near the back anyway, your chance of winning... (read more)