Comment author:kbog
07 January 2018 07:42:37AM
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"Approximate it as well as they can" implies a standard beyond the subjective Bayesian framework by which subjective estimates are compared.

How does it imply that? A Bayesian agent makes updates to their beliefs to approximate the real world as well as it can. That's just regular Bayesian updating, whether you are subjective or not.

I think the difficulty is that it is very hard to assess the accuracy of subjective estimates about complicated real-world events, where many of the causal inputs of the event are unknown & the impacts of the event occur over a long time horizon.

I don't see what this has to do with subjective estimates. If we talk about estimates in objective and/or frequentist terms, it's equally difficult to observe the long term unfolding of the scenario. Switching away from subjective estimates won't make you better at determining which estimates are correct or not.

I don't have a fully articulated view here, but I think the problem lies with how the agent assesses how its approximations are doing (i.e. the procedure an agent uses to assess when an update is modeling the world more accurately or less).

## Comments (18)

Best*0 points [-]How does it imply that? A Bayesian agent makes updates to their beliefs to approximate the real world as well as it can. That's just regular Bayesian updating, whether you are subjective or not.

I don't see what this has to do with subjective estimates. If we talk about estimates in objective and/or frequentist terms, it's equally difficult to observe the long term unfolding of the scenario. Switching away from subjective estimates won't make you better at determining which estimates are correct or not.

I don't have a fully articulated view here, but I think the problem lies with how the agent assesses how its approximations are doing (i.e. the procedure an agent uses to assess when an update is modeling the world more accurately or less).

*0 points [-]Agreed. I think the difficulty applies to both types of estimates (sorry for being imprecise above).