Thanks for this post - I really appreciate the thoughtful discussion of the arguments I've made.
I'd like to respond by (a) laying out what I believe is a big-picture point of agreement, which I consider more important than any of the disagreements; (b) responding to what I perceive as the main argument this post makes against the framework I've advanced; (c) responding on some more minor points. (c) will be a separate comment due to length constraints.
A big-picture point of agreement: the possibility of vast utility gain does not - in itself - disqualify a giving opportunity as a good one, nor does it establish that the giving opportunity is strong. I'm worried that this point of agreement may be lost on many readers.
The OP makes it sound as though I believe that a high enough EEV is "ruled out" by priors; as discussed below, that is not my position. I agree, and always have, that "Bayesian adjustment does not defeat existential risk charity"; however, I think it defeats an existential risk charity that makes no strong arguments for its ability to make an impact, and relies on a "Pascal's Mugging" type argument for its appeal.
On the flip side, I believe that a lot of readers believe that "Pascal's Mugging" type arguments are sufficient to establish that a particular giving opportunity is outstanding. I don't believe the OP believes this.
I believe the OP and I are in agreement that one should support an existential risk charity if and only if it makes a strong overall case for its likely impact, a case that goes beyond the observation that even a tiny probability of success would imply high expected value. We may disagree on precisely how high the burden of argumentation is, and we probably disagree on whether MIRI clears that hurdle in its current form, but I don't believe either of us thinks the burden of argumentation is trivial or is so high that it can never be reached.
Response to what I perceive as the main argument of this post
It seems to me that the main argument of this post runs as follows: * The priors I'm using imply extremely low probabilities for certain events. * We don't have sufficient reasons to confidently assign such low probabilities to such events.
I think the biggest problems with this argument are as follows:
1 - Most importantly, nothing I've written implies an extremely low probability for any particular event. Nick Beckstead's comment on this post lays out the thinking here. The prior I describe isn't over expected lives saved or DALYs saved (or a similar metric); it's over the merit of a proposed action relative to the merits of other possible actions. So if one estimates that action A has a 10^-10 chance of saving 10^30 lives, while action B has a 50% chance of saving 1 life, one could be wrong about the difference between A and B by (a) overestimating the probability that action A will have the intended impact; (b) underestimating the potential impact of action B; (c) leaving out other consequences of A and B; (d) making some other mistake.
My current working theory is that proponents of "Pascal's Mugging" type arguments tend to neglect the "flow-through effects" of accomplishing good. There are many ways in which helping a person may lead to others' being helped, and ultimately may lead to a small probability of an enormous impact. Nick Beckstead raises a point similar to this one, and the OP has responded that it's a new and potentially compelling argument to him. I also think it's worth bearing in mind that there could be other arguments that we haven't thought of yet - and because of the structure of the situation, I expect such arguments to be more likely to point to further "regression to the mean" (so to make proponents of "Pascal's Mugging" arguments less confident that their proposed actions have high relative expected value) than to point in the other direction. This general phenomenon is a major reason that I place less weight on explicit arguments than many in this community - explicit arguments that consist mostly of speculation aren't very stable or reliable, and when "outside views" point the other way, I expect more explicit reflection to generate more arguments that support the "outside views."
2 - That said, I don't accept any of the arguments given here for why it's unacceptable to assign a very low probability to a proposition. I think there is a general confusion here between "low subjective probability that a proposition is correct" and "high confidence that a proposition isn't correct"; I don't think those two things are equivalent. Probabilities are often discussed with an "odds" framing, with the implication that assigning a 10^-10 probability to something means that I'd be willing to wager $10^10 against $1; this framing is a useful thought experiment in many cases, but when the numbers are like this I think it starts encouraging people to confuse their risk aversion with "non-extreme" (i.e., rarely under 1% or over 99%) subjective probabilities. Another framing is to ask, "If we could somehow do a huge number of 'trials' of this idea, say by simulating worlds constrained by the observations you've made, what would your over/under be for the proportion of trials in which the proposition is true?" and in that case one could simultaneously have an over/under of (10^-10 * # trials) and have extremely low confidence in one's view.
It seems to me that for any small p, there must be some propositions that we assign a probability at least as small as p. (For example, there must be some X such that the probability of an impact greater than X is smaller than p.) Furthermore, it isn't the case that assigning small p means that it's impossible to gather evidence that would change one's mind about p. For example, if you state to me that you will generate a random integer N1 between 1 and 10^100, there must be some integer N2 that I implicitly assign a probability of <=10^-100 as the output of your exercise. (This is true even if there are substantial "unknown unknowns" involved, for example if I don't trust that your generator is truly random.) Yet if you complete the exercise and tell me it produced the number N2, I quickly revise my probability from <=10^-100 to over 50%, based on a single quick observation.
For these reasons, I think the argument that "the mere fact that one assigns a sufficiently low probability to a proposition means that one must be in error" would have unacceptable implications and is not supported by the arguments in the OP.
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Responses on some more minor points (see my previous comment for big-picture responses):
Regarding "BA updates on a point estimate rather than on the full evidence that went into the point estimate" - I don't understand this claim. BA updates on the full probability distribution of the estimate, which takes into account potential estimate error. The more robust the estimate, the smaller the BA.
Regarding "double-counting" priors, I have not advocated for doing both an explicit "skepticism discount" in one's EEV calculation and then performing a BA on the output based on the same reasons for skepticism. Instead, I've discussed the pros and cons of these two different approaches to accounting for skepticism. There are cases in which I think some sources of skepticism (such as "only 10% of studies in this reference class are replicable") should be explicitly adjusted for, while others ("If a calculation tells me that an action is the best I can take, I should be skeptical because the conclusion is a priori unlikely") should be implicitly adjusted for. But I don't believe anything I've said implies that one should "double-count priors."
Regarding " log-normal priors would lead to different graphs in the second post, weakening the conclusion. To take the expectation of the logarithm and interpret that as the logarithm of the true cost-effectiveness is to bias the result downward." - FWIW, I did a version of my original analysis using log-normal distributions (including the correct formula for the expected value) and the picture didn't change much. I don't think this issue is an important one though I'm open to being convinced otherwise by detailed analysis.
I don't find the "charity doomsday argument" compelling. One could believe in low probability of extinction by (a) disputing that our current probability of extinction is high to begin with, or (b) accepting that it's high but disputing that it can only be lowered by a donation to one of today's charities (it could be lowered by a large set of diffuse actions, or by a small number of actions whose ability to get funding is overdetermined, or by a far-future charity, or by a combination). If one starts off believing that probability of extinction is high and that it can only be lowered by a particular charity working today that cannot close its funding gap without help from oneself, this seems to beg the question. (I don't believe this set of propositions.)
I don't believe any of the alternative solutions to "Pascal's Mugging" are compelling for all possible constructions of "Pascal's Mugging." The only one that seems difficult to get around by modifying the construction is the "bounded utility function" solution, but I don't believe it is reasonable to have a bounded utility function: I believe, for example, that one should be willing to pay $100 for a 1/N chance of saving N lives for any N>=1, if (as is not the case with "Pascal's Mugging") the "1/N chance of saving N lives" calculation is well supported and therefore robust (i.e., has relatively narrow error bars). Thus, "Pascal's Mugging" remains an example of the sort of "absurd implication" I'd expect for an insufficiently skeptical prior.
Finally, regarding "a single percentage point of reduction of existential risks would be worth (from a utilitarian expected utility point-of-view) a delay of over 10 million years." - I'm not aware of reasons to believe it's clear that it would be easier to reduce extinction risk by a percentage point than to speed colonization by 10 million years. If the argument is simply that "a single percentage point seems like a small number," then I believe this is simply an issue of framing, a case of making something very difficult sound easy by expressing it as a small probability of a fantastically difficult accomplishment. Furthermore, I believe that what you call "speedup" reduces net risk of extinction, so I don't think the comparison is valid. (I will elaborate on this belief in the future.)