It also makes you easily exploitable, since you’ll always assume that your probability of winning any gamble is 50%.
Your probability of winning any two-sided bet is 50%, as long as you pick which side of the bet you take at random. A “rational ignoramus” who always had minimum confidence wouldn’t accept any arrangement where the opponent got to pick which side of the bet to take.
Your probability of winning any two-sided bet is 50%, as long as you pick which side of the bet you take at random. A “rational ignoramus” who always had minimum confidence wouldn’t accept any arrangement where the opponent got to pick which side of the bet to take.