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Underappreciated benefit of betting your beliefs with $ is that it avoids betting your reputation by default. Loss of stake is easier to fix than loss of face. $ is a device for separating identity and beliefs. The wealthy tend to be conservative about things they can’t bet on.
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This is only true of *rational* betting as in Geertz’s notion of shallow play. The act of encoding odds and values in a rational bet automatically bounds the value of a belief to at less than priceless value of your identity.
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Deep play is the opposite: the irrationality of a bet berated out of proportion to any possible rational valuation of a win signals the bet is actually a marker of the strength which which you identify with a belief.
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