"Luck isn't controllable and in this case it matters a lot!" "...ok, granting all those premises, we can still play in an optimal fashion against these uncertainties." "How dare!"
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That’s what’s so clever about the study - they tried different models of assigning resources - and past success model wasn’t one of the better performing ones. Equal assignment followed by random assignment performed best.
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Sure, but in order to be able to run a portfolio strategy or play iterated games you generally need to be in the position that most of us are not in, and being in that position to begin with is more a matter of luck than skill or work - eg 'the birth lottery'.
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