Earlier quoted context omitted.
The insurance industry does a pretty good job of “what is the probability that you will die in the next billable period” - but they would never reduce the bet to “what is the probability that you will die today ?” You say it’s “essentially impossible to model” something that hasn’t occurred before. Nations have engaged in a lot of wars. Nations have engaged in a lot of wars they could not possibly win. People have co…
If you are lost in a city would you rather have the wrong map or no map at all? The person that has the wrong map and thinks that it’s the right map is the one that’s naive. Regarding insurance companies, you are conflating ensemble probabilities with time probabilities. Insurance companies can estimate the ensemble probability of an event in a group of agents which belong to a certain category and not the time proba…
“If you are lost in a city would you rather have the wrong map or no map at all?”
I’d talk to a local, because they have knowledge on the topic. They’re a bit like the experts who have spent years in the field here, whose opinions are being dismissed with straw man arguments.
Generally when a non-expert on a topic says “here is a glaringly obvious flaw with an entire field that has been overlooked by everyone working in that field, that I spotted after two minutes of deliberation” - it’s quite a big call. When they then support their argument with primarily straw man arguments and other bad faith tactics, it’s very weak and okay to just ignore it.