What bugs me about "radical uncertainty" boosters is that they seem to me to downplay how important information acquisition costs are and that one we realize there's a chance (i.e. - a probability) of something that we can't attach a probability to or even a name to, normal decision making starts to pierce through at least little.
But it's clear that information acquisition costs are not the whole story - that there is uncertainty in addition to risk.
We laugh at this comic because we know how crazy it is to reduce dealing with the reality of radical uncertainty to a cost-benefit analysis of information acquisition costs.
A New Front in My War Against Scott Sumner
3 hours ago