general belief underlying most longtermist effort that societally we are predictably underinvesting in low-probability catastrophic / existential risk reduction
It is unclear to me whether this belief is correct. To illustrate:
If the goal is saving lives, spending should a priori be proportional to the product between deaths and their probability density function (PDF). If this follows a Pareto distribution, such a product will be proportional to “deaths”^-alpha, where alpha is the tail index.
“deaths”^-alpha decreases as deaths increase, so there should be less spending on more severe catastrophes. Consequently, I do not think one can argue for greater spending on more severe catastrophes just based on it currently being much smaller than that on milder ones.
For example, for conflict deaths, alpha is “1.35 to 1.74, with a mean of 1.60”, which means spending should a priori be proportional to “deaths”^-1.6. This suggests spending to decrease deaths in wars 1 k times as deadly should be 0.00158 % (= (10^3)^(-1.6)) as large.
Hi Johannes,
It is unclear to me whether this belief is correct. To illustrate:
If the goal is saving lives, spending should a priori be proportional to the product between deaths and their probability density function (PDF). If this follows a Pareto distribution, such a product will be proportional to “deaths”^-alpha, where alpha is the tail index.
“deaths”^-alpha decreases as deaths increase, so there should be less spending on more severe catastrophes. Consequently, I do not think one can argue for greater spending on more severe catastrophes just based on it currently being much smaller than that on milder ones.
For example, for conflict deaths, alpha is “1.35 to 1.74, with a mean of 1.60”, which means spending should a priori be proportional to “deaths”^-1.6. This suggests spending to decrease deaths in wars 1 k times as deadly should be 0.00158 % (= (10^3)^(-1.6)) as large.