Wouldn't something good happening correctly result in a Bayseian update on the probability that you are a genius, and something bad a Bayseian update on the probability that someone is an idiot? (perhaps even you)
Yes, but if something good happens you have to update on the probability that someone besides you is a genius, and if something bad happens you have to update on the probability that you're the idiot. The problem is people only update the parts that make them look better.
Another month, another rationality quotes thread. The rules are: