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Insurance with perfect info would be an amazing social good. If they could say "you can build a house there, but it will burn down in a forest fire 15 years fro
by gizmo686 3y ago
Insurance with perfect info would be an amazing social good. If they could say "you can build a house there, but it will burn down in a forest fire 15 years from now", we could make an informed decision on if we want to build that house.
- sdenton4 3y agoAnd yet, people build and rebuild in flood plains...
- brogrammernot 3y agoYeah but that’s compounded by access to the information & who do you trust. Also human nature is to look at the odds and not believe you’re going to be that 1 in 125,000 :)
- sdenton4 3y agoLindsay: Well, did it work for those people? Tobias: No, it never does. I mean, these people somehow delude themselves into thinking it might, but ... But it might work for us.
- kwhitefoot 3y agoThat's not insurance then. The whole point of insurance is shared risk in circumstances where perfect information is not available but a reasonable calculation of risk for the cohort is.