2/ I think we agree on the desirability of maximizing (long-term, collective) utility, and agree, up to edge cases, on what that utility is
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10/ Of course, there's usually a good reason the fashionable idea is fashionable. It usually _is_ right.
11/ But there's no reason to think our grant allocation mechanisms allocate money in the right way.
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Relevant referee comment on a (rejected) grant proposal: "This isn't what other people are working on."
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12/ In particular, suppose we have some key scientific problem, and the two leading approaches have a 20% and a 5% chance of working.
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13/ With current mechanisms, the default is for approach 1 to end up with disproportionate funding.
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