The analogy with insurance isn’t exact. One could argue (though I think one would be wrong) that diminishing returns related to bounded utility start setting in on scales larger than the kinds of events people typically insure against, but smaller than whatever fraction of astronomical waste justifies investing in combating 1% existential risk probabilities.
The analogy with insurance isn’t exact. One could argue (though I think one would be wrong) that diminishing returns related to bounded utility start setting in on scales larger than the kinds of events people typically insure against, but smaller than whatever fraction of astronomical waste justifies investing in combating 1% existential risk probabilities.