Tuesday, December 13, 2011

Woolly Mammoth Update

Via SMH, apparently there are now betting odds on when the Woolly Mammoth will be cloned, and they are the following:

2014 or earlier: 8 to1.
2015 or 2016: 2 to 1.
2017 or 2018: 5 to 2.
2019 or 2020: 11 to 4.

It's easy to miss the enormous picture that these odds are conveying. To bring it into focus, let's convert those odds to probabilities and work out the market's estimate of the cumulative probability that a Woolly Mammoth will be cloned by the end of year X:

2014:     11.11%
2016:     44.44%
2018:     73.02%
2020:     99.68%!!!!

Hoo-ah! According to the market, the dream is looking good!

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