Yes this is a really good point. I meant to make it when I first read Thomas’ comment but then forgot about this as I was typing up my own comment.
I think
it’ll be far less once we get into the next $90bn and then $100bn after it. It might well be a lot less than 0.1% per $10bn billion.
Might be a plausible position after the movement has a few more years of experience and researchers have put a few thousand hours of research and further thinking into this question, but right now we (or at least I) don’t have a strong enough understanding of the landscape to confidently believe in very low cost-effectiveness for the last dollar. In slightly more mathy terms, we might have a bunch of different cost-effectiveness distributions in the ensemble that forms our current prior, which means we can’t go very low (or high) if we do a weighted average across them.
Yes this is a really good point. I meant to make it when I first read Thomas’ comment but then forgot about this as I was typing up my own comment.
I think
Might be a plausible position after the movement has a few more years of experience and researchers have put a few thousand hours of research and further thinking into this question, but right now we (or at least I) don’t have a strong enough understanding of the landscape to confidently believe in very low cost-effectiveness for the last dollar. In slightly more mathy terms, we might have a bunch of different cost-effectiveness distributions in the ensemble that forms our current prior, which means we can’t go very low (or high) if we do a weighted average across them.
The point about averaging over several cost-effective distributions is interesting!
If you find the analogy helpful, my comment here mirrors Toby’s on why having a mixed prior on the Hinge of History question is reasonable.