Eliezer_Yudkowsky comments on Rooting Hard for Overpriced M&Ms - Less Wrong

4 Post author: David_J_Balan 28 November 2009 07:10PM

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Comment author: Eliezer_Yudkowsky 28 November 2009 10:06:09PM 0 points [-]

Oops, the above should be, "total wealth differences in the region of $4", not "total bank account wealth differences". Hm. This is an interesting problem in approximate rationality - if your estimate of "bank account + wallet" and "bank account" is pretty much the same total number, and you learn how much money is in your wallet, what have you learned?

Comment author: wedrifid 29 November 2009 02:24:38AM 2 points [-]

if your estimate of "bank account + wallet" and "bank account" is pretty much the same total number, and you learn how much money is in your wallet, what have you learned?

Hopefully that your bank balance is such that whatever you carry in your wallet pales into insignificance.

Comment author: David_J_Balan 28 November 2009 10:16:58PM 0 points [-]

It seems to me like you've learned only how much what's actually in your wallet deviated from your best guess about what was in there. If non-wallet wealth effects can be safely ignored, then learning of an $X dollar deviation can be taken as a shock of that size to your total wealth.