Re:Fear of regret influences our decisions
by mannykannot on Saturday March 09, 2024 @10:59AM
(#39652495)
> If I didn't know the experimenter was trustworthy (for example a street hustler in NYC), I definitely would not switch in the equal reward scenario and may even require 3x to switch because I would expect that they would only offer if my initial selection was wrong.
If you don't trust the experimenter at all, then you might as well not switch, but I don't think that is a better than switching, as you have no basis for assuming any outcome in any circumstance.
If you are dealing with a street hustler in NYC, the optimal move is to disengage.
WRT the first (equal rewards) scenario: a weak bias towards sticking with an original decision might be favored by evolution, as constantly changing one's mind without new knowledge is not optimal behavior.
If you don't trust the experimenter at all, then you might as well not switch, but I don't think that is a better than switching, as you have no basis for assuming any outcome in any circumstance.
If you are dealing with a street hustler in NYC, the optimal move is to disengage.
WRT the first (equal rewards) scenario: a weak bias towards sticking with an original decision might be favored by evolution, as constantly changing one's mind without new knowledge is not optimal behavior.