The Nonlinear Library EA - How Rethink Priorities is Addressing Risk and Uncertainty by Marcus A Davis
Nov 7, 2023
16:53
Welcome to The Nonlinear Library, where we use Text-to-Speech software to convert the best writing from the Rationalist and EA communities into audio. This is: How Rethink Priorities is Addressing Risk and Uncertainty, published by Marcus A Davis on November 7, 2023 on The Effective Altruism Forum.
This post is part of Rethink Priorities' Worldview Investigations Team's CURVE Sequence: "Causes and Uncertainty: Rethinking Value in Expectation." The aim of this sequence is twofold: first, to consider alternatives to expected value maximization for cause prioritization; second, to evaluate the claim that a commitment to expected value maximization robustly supports the conclusion that we ought to prioritize existential risk mitigation over all else.
Introduction
RP has committed itself to doing good. Given the limits of our knowledge and abilities, we won't do this perfectly but we can do this in a principled manner. There are better and worse ways to work toward our goal. In this post, we discuss some of the practical steps that we're taking to navigate uncertainty, improve our reasoning transparency, and make better decisions. In particular, we want to flag the value of three changes we intend to make:
Incorporating multiple decision theories into Rethink Priorities' modeling
More rigorously quantifying the value of different courses of action
Adopting transparent decision-making processes
Using Multiple Decision Theories
Decision theories are frameworks that help us evaluate and make choices under uncertainty about how to act.[1] Should you work on something that has a 20% chance of success and a pretty good outcome if success is achieved, or work on something that has a 90% chance of success but only a weakly positive outcome if achieved? Expected value theory is the typical choice to answer that type of question. It calculates the expected value (EV) of each action by multiplying the value of each possible
outcome by its probability and summing the results, recommending the action with the highest expected value. But because low probabilities can always be offset by corresponding increases in the value of outcomes, traditional expected value theory is vulnerable to the charge of fanaticism, "risking arbitrarily great gains at arbitrarily long odds for the sake of enormous potential" (Beckstead and Thomas, 2021). Put differently, it seems to recommend spending all of our efforts on actions that,
predictably, won't achieve our ends.Alternative decision theories have significant drawbacks of their own, giving up one plausible axiom or another. The simple alternative is expected value maximization but with very small probabilities rounded down to zero. This gives up the axiom of continuity, which suggests for a relation of propositions A B C, that there exists some probability that would make you indifferent between B and a probabilistic combination of A and C. This violation causes some
weird outcomes where, say, believing the chance of something is 1 in 100,000,000,000 can mean an action gets no weight but believing it's 1.0000001 in 100,000,000,000 means that the option dominates your considerations if the expected value upon success is high enough, which is a kind of attenuated fanaticism. There are also other problems like setting the threshold for where you should round down.[2]
Alternatively, you could go with a procedure like weighted-linear utility theory (WLU) (Bottomley and Williamson, 2023), but that gives up the principle of homotheticity, which involves indifference to mixing a given set of options with the worst possible outcome. Or you could go with a version of risk-weighted expected utility (REU) (Buchak, 2013) and give up the axiom of betweenness which suggests the order in which you are presented information shouldn't alter your conclusions.[3]
It's very unclear to us, for example, that giving up continuity is preferable to giving up homotheticity, and neither REU or WLU really logically eliminate issues w...
This post is part of Rethink Priorities' Worldview Investigations Team's CURVE Sequence: "Causes and Uncertainty: Rethinking Value in Expectation." The aim of this sequence is twofold: first, to consider alternatives to expected value maximization for cause prioritization; second, to evaluate the claim that a commitment to expected value maximization robustly supports the conclusion that we ought to prioritize existential risk mitigation over all else.
Introduction
RP has committed itself to doing good. Given the limits of our knowledge and abilities, we won't do this perfectly but we can do this in a principled manner. There are better and worse ways to work toward our goal. In this post, we discuss some of the practical steps that we're taking to navigate uncertainty, improve our reasoning transparency, and make better decisions. In particular, we want to flag the value of three changes we intend to make:
Incorporating multiple decision theories into Rethink Priorities' modeling
More rigorously quantifying the value of different courses of action
Adopting transparent decision-making processes
Using Multiple Decision Theories
Decision theories are frameworks that help us evaluate and make choices under uncertainty about how to act.[1] Should you work on something that has a 20% chance of success and a pretty good outcome if success is achieved, or work on something that has a 90% chance of success but only a weakly positive outcome if achieved? Expected value theory is the typical choice to answer that type of question. It calculates the expected value (EV) of each action by multiplying the value of each possible
outcome by its probability and summing the results, recommending the action with the highest expected value. But because low probabilities can always be offset by corresponding increases in the value of outcomes, traditional expected value theory is vulnerable to the charge of fanaticism, "risking arbitrarily great gains at arbitrarily long odds for the sake of enormous potential" (Beckstead and Thomas, 2021). Put differently, it seems to recommend spending all of our efforts on actions that,
predictably, won't achieve our ends.Alternative decision theories have significant drawbacks of their own, giving up one plausible axiom or another. The simple alternative is expected value maximization but with very small probabilities rounded down to zero. This gives up the axiom of continuity, which suggests for a relation of propositions A B C, that there exists some probability that would make you indifferent between B and a probabilistic combination of A and C. This violation causes some
weird outcomes where, say, believing the chance of something is 1 in 100,000,000,000 can mean an action gets no weight but believing it's 1.0000001 in 100,000,000,000 means that the option dominates your considerations if the expected value upon success is high enough, which is a kind of attenuated fanaticism. There are also other problems like setting the threshold for where you should round down.[2]
Alternatively, you could go with a procedure like weighted-linear utility theory (WLU) (Bottomley and Williamson, 2023), but that gives up the principle of homotheticity, which involves indifference to mixing a given set of options with the worst possible outcome. Or you could go with a version of risk-weighted expected utility (REU) (Buchak, 2013) and give up the axiom of betweenness which suggests the order in which you are presented information shouldn't alter your conclusions.[3]
It's very unclear to us, for example, that giving up continuity is preferable to giving up homotheticity, and neither REU or WLU really logically eliminate issues w...