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and the analysis in this paper IMO answers that question: it's because multiplying point estimates of numbers that are uncertain across multiple orders of magnitude ignores heavy tail behavior, and especially in this case ignores extreme uncertainty in P(intelligence | planet)
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the specific numbers in the paper are also mostly a proof of concept, the analysis i think ends up being pretty robust to fairly different distributions on the drake equation parameters, the broad qualitative picture involving a heavy tail remains
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