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SquirrelInHell comments on Risk Contracts: A Crackpot Idea to Save the World - Less Wrong Discussion
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Comments (35)
If you think this is related, then I failed to communicate my idea.
You can think of risk contracts as of an internal currency of decision making, that allows to coordinate risk management in a situation when there are multiple agents acting independently (or new agents are created).
Definitely different from betting on extinction events, or betting on predictions about those events.
Are you looking for the expression "risk budget"?
What is "internal currency" when you are talking about "multiple agents acting independently"?
Sorry, that was unclear. I meant "internal" to the decision making process. This process is implemented on many individuals in case of human collective intelligence. But in some cases it makes sense to think about it as a single decision making process in the abstract.