Re:Dan Ariely and Irrational Comparison
by xondono on Tuesday August 04, 2020 @01:52PM
(#24052582)
I didn't, think of it this way:
In the first experiment I can choose if I'd rather have online (59$) or print version(125$). Either way I'm risking the disappointment of taking the wrong choice, or I can choose online for 59$ plus a 66$ hedge against choosing wrong.
In the second experiment you've eliminated the risk of choosing print and realizing later that I wanted online, so hedging makes less sense (i.e. I'm willing to pay less for hedging my choice).
In the first experiment I can choose if I'd rather have online (59$) or print version(125$). Either way I'm risking the disappointment of taking the wrong choice, or I can choose online for 59$ plus a 66$ hedge against choosing wrong.
In the second experiment you've eliminated the risk of choosing print and realizing later that I wanted online, so hedging makes less sense (i.e. I'm willing to pay less for hedging my choice).