Expected Value Estimates You Can (Maybe) Take Literally
Part of a series on quantitative models for cause selection.
Alternate title: Excessive Pessimism About Far Future Causes
In my post on cause selection, I wrote that I was roughly indifferent between $1 to MIRI, $5 to The Humane League (THL), and $10 to AMF. I based my estimate for THL on the evidence and cost-effectiveness estimates for veg ads and leafleting. Our best estimates suggested that these are conservatively 10 times as cost-effective as malaria nets, but the evidence was fairly weak. Based on intuition, I decided to adjust this 10x difference down to 2x, but I didn’t have a strong justification for the choice.
Corporate outreach has a lower burden of proof (the causal chain is much clearer) and estimates suggest that it may be ten times more effective than ACE top charities’ aggregate activities1. So does that mean I should be indifferent between $5 to ACE top charities and $0.50 to corporate campaigns? Or perhaps even less, because the evidence for corporate campaigns is stronger? But I wouldn’t expect this 10x difference to make corporate campaigns look better than AI safety, so I can’t say both that corporate campaigns are ten times better than ACE top charities and also that AI safety is only five times better. My previous model, in which I took expected value estimates and adjusted them based on my intuition, was clearly inadequate. How do I resolve this? In general, how can we quantify the value of robust, moderately cost effective interventions against non-robust but (ostensibly) highly cost effective interventions?
To answer that question, we have to get more abstract.
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