Risks, Actions, and Benefits

Partially a response and clarification (at least I think it's clearer) to the strategies presented in Alicorn's post on Less Wrong, The Shadow Question. One of the big problems in her discussion of strategies is the conflation of up-front costs with risks.

"First, Do No Harm": When it is as easy to make things worse as better, be damn sure you know what you're doing before you start fixing things.

"Cherry on Top": An invitation to fiddle; small changes are very unlikely to make things worse, and may help.

"Lottery Ticket": She talks about a risk of making things worse, but it looks more like (from her examples and general discussion) that she means is an upfront cost with a chance of significant benefit later.

Insurance: The other headings were hers, but the one she uses here is misleading, as is her discussion. This is related to "Lottery Ticket" in having upfront costs, but in this case it's to prevent an unacceptable risk of harm. It can be something as simple as insuring your house against fire, so you have a temporary place to live and your house gets repaired (or you get a new house if that's easier/cheaper). To actually working to make a risky future less likely (for example, working on Friendly AI).

Another strategy mentioned by Morendil in a comment is "Go for broke" (a less functional version of this would be Russian Roulette), a big risk with the chance of a big reward, like First, Do No Harm, but higher potential risk/payoff matrix.


First, Do No Harm - Use knowledge to avoid as much risk as possible while still seeking the reward

Go for broke - Straightforward acceptance of large risk with large reward

Cherry on Top - Seek benefits at minimal risk

Lottery Ticket - Pay an up-front cost for a small chance at a large benefit

Insurance - Accept an up-front cost to hedge against a risk

Adventure sports isn't a risk management strategy, I mention it here because it feels like there should be a benefit - Seek the thrill of risk, while reducing actual risks, and not getting any benefit except the thrill

If you think of any other generic strategies, please leave a mention in the comments.


As an aside:

As for the title of the original post, I had to Google "Shadow Question". I don't watch television and have never seen an episode of Babylon 5. Given the page I found that describes the show, that was no loss. But the "two questions", "Who are you?" is the Vorlon question. "What do you want?" is the Shadow question. I guess you could call the first one silliness, and the Shadow question practical.

Is high IQ a curse? - Hacker News

From a question posted on Hacker News Is high IQ a curse?

Potential problems:
* unrealistic expectations of what you can accomplish
* difficulty in dealing with average people
* more likely to question things and annoy people in the process
* less likely to accept traditions
* less likely to enjoy the simple pleasures of life
* less likely to find a job as an employee rewarding

I first responded:
If it is a curse to you, then you probably have other specific difficulties. I am a high-functioning autistic with an IQ of 156; I have trouble with all but the last 2. In fact, working as an employee helps offset my problems with "unrealistic expectations" since my biggest problem with that is lack of focus, and when employed my employer provides the focus. Unfortunately, since my last good employer died in 2001, I have been bouncing around between low level jobs ever since. I cannot work closely with others more than briefly, so I either have to work alone, which is what I mostly did in the 1990s, or switch jobs every few years, and with the economy and the torture looking for work is for me, I have been mostly out of work since last October.

Then in response to a suggestion that maybe I didn't really need a job, I responded:
That's my biggest problem, I don't have any particular passion. I NEED an external source of focus; when I'm not working I read and study more or less at random when something catches my attention. I have tried all sorts of things to try to maintain a single focus, but so far nothing has worked at all. And I need income even more, I'm already in debt, I just have to take whatever I can get for work.

I came back to the site after taking a nap, thinking that maybe I came across as too whiny. After rereading what I wrote, I wanted to edit it and add more useful content, but it was too late to edit or delete it, so I decided to add to it here, where it will be easier to maintain. (Finding HN entries after they've left the front page can be a bit tedious.)

I am going to respond more specifically to each point:

unrealistic expectations of what you can accomplish
If this is a problem for you, then you probably just aren't as smart as you think you are. You just need a more realistic self-assessment. My problem here is that I can accomplish a lot in a day, but staying focused for a sustained effort is impossible without help.

difficulty in dealing with average people
Being autistic, I have real trouble with this one, but I have learned and can deal with normal people in a relatively structured setting, where I know the parameters of the interaction in advance (I did okay working a Greyhound bus agency for a couple of years), if taken unawares I still can't. I also can't deal regularly with the same people for very long, since no one seems to learn from their mistakes, they keep doing the same stuff over and over and it gets on my nerves very quickly. To avoid this I usually work alone, night stocking in Walmart produce worked pretty well, but the best I had from this aspect was I spent the entire 1990s working for an architect and landscaper who dealt with the clients, then left me alone to get the work done.

more likely to question things and annoy people in the process
If you can't learn to keep your mouth shut, you really aren't very bright at all. I learned this very early in life, getting your ass kicked on the way home from school almost every day will do that.

less likely to accept traditions
Maybe not just because they are traditions, except that Friedrich Hayek, Thomas Sowell, and many others have pointed out that traditional knowledge may not be optimal, but it has survived the test of real world use, sometimes over substantial periods of time. (As a side note, many "traditions" aren't very old, despite what some seem to think.) Questioning traditions is good, just don't throw them out until you understand why they exist and have something better to replace them.

less likely to enjoy the simple pleasures of life
This depends too much on your definition of the "simple pleasures", but from what I have seen there is little difference, and what there is goes the other way; more intelligent people are generally more capable of enjoying "the simple pleasures", and indeed any pleasures.

less likely to find a job as an employee rewarding
I don't understand this one at all. Just as when you are doing independent contracting or have your own small business, you are providing a service to someone that the other values enough to pay you to do. In many ways, doing a job as an employee can be more rewarding if you like what you are doing, because you don't have to deal with the parts you may not like, such as collections, paying other employees, renting workspace, and the hundreds of other details needed to operate a successful business.

Some of the books by Thomas Sowell I have read and definitely recommend:
A Conflict of Visions: Ideological Origins of Political Struggles
How to understand the fundamental difference between American liberals and small government conservatives. Does not defend Republicans nor the Judeo-Christian Socialists that have more recently been mis-labeled "conservatives".

Knowledge And Decisions
This is the single best book on the role of knowledge in the economy, and why planning does not work. Not as theoretical as some, but with more examples.

The Vision of the Anointed: Self-Congratulation as a Basis for Social Policy
Sequel to A Conflict of Visions above; I do not recommend the third book in the series The Quest for Cosmic Justice. But even though I think it's weaker than the others, it is equally highly ranked on Amazon, so maybe you'll get more out of it than I did.

I've read and recommend others by Sowell, but these are the ones that bear most directly on the value of traditions. Hayek's books are more formally written, but I don't really think they are better than Sowell's in any real sense.

The single most accessible for general readers and referring to the value of tradition is The Fatal Conceit: The Errors of Socialism (The Collected Works of F. A. Hayek). Individualism and Economic Order is a collection of essays, and is harder reading, but I think it worth the effort.