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A comment on Why people make dumb financial decisions on purpose. Parent comment

Re:Why people make dumb financial decisions on purpose by UncleMeat on Saturday September 03, 2022 @01:04PM (#32703810)
Not so. It can be throughly reasonable to make a choice that has lower expected value but has a distribution that fits your needs more closely.
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Re:Why people make dumb financial decisions on purpose by CrazyStat on Saturday September 03, 2022 @05:15PM (#32706169)
If one option doesn't fit your needs then it has lower utility.
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Re:Why people make dumb financial decisions on purpose by UncleMeat on Saturday September 03, 2022 @10:16PM (#32709085)
Then this is worthless as a decision making system since your decisions will always already be the one that maximizes expected utility via this unknowable transformation.
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Re:Why people make dumb financial decisions on purpose by CrazyStat on Saturday September 03, 2022 @11:09PM (#32709404)
No, that doesn't follow. You might be acting in a short-sighted or impulsive way that doesn't maximize your utility. You can't just post-hoc declare that your true utility function is whatever would have led you to the decision you made.
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