ABSTRACTA new solution strategy for the problem of induction has been developed based on a priori advantages of regret-weighted meta-induction (RW) in prediction tasks. These a priori advantages seem to contradict the no-free lunch (NFL) theorem. In this paper, the NFL challenge is dissolved by three novel results: (1) RW enjoys free lunches in the long run. (2) Yet, the NFL theorem applies to iterated prediction tasks, because the distribution underlying it assigns a zero probability to all possible worlds in which RW enjoys free lunches. (3) The a priori advantages of RW can even be demonstrated for the short run.
Read full abstract