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Overcoming Bias Commenter's avatar

A market system is fairly good at finding (capitalist) valuations, given that enough data exists between the participants to resolve a probability curve to a statistically significant degree. Real-world contracts almost universally accept that this is not true of events far enough down the tail. You're essentially advocating that there be a market in force majeure - and I can't think of a single major investor who wouldn't laugh that idea out of the building.

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Overcoming Bias Commenter's avatar

Seems like a waste of time since virtually all similar affairs have had not just non-world-ending results, but no notable results whatsoever. Absence of evidence is evidence of absence. If you disagree, I propose people be discouraged from exercise because each calorie of consumption risks a chain reaction of heat energy that will melt the Earth and kill all inhabitants. You should start collecting additional taxes from gyms immediately, and I humbly accept a portion of the proceeds for coming up with the idea and warning you of the threat.

I'm a big believer in republic; that is, that all people everywhere cannot individually be well-versed in every issue everywhere at all times. Representation is necessary in the civilized world, and unless your weighed average gives thousands of times the weight to astronomers, mathematicians, and physicists - that is, one that more or less obliterates the lay man's opinion - you'd have an uphill battle getting me to respect the odds you came up with.

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