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Manfred comments on Open thread, July 28 - August 3, 2014 - Less Wrong Discussion
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Comments (241)
Have you read Wei Dai's posts already? E.g. here and here.
My one-sentence description is "find the best strategy, then follow it."
If you want a more formal approach, cousin it's post is probably a good place to start - if you like that, there are more posts by him that might be a good idea to read.
Yup. The simplest formulation I have is this one.