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apophenia comments on Too busy to think about life - Less Wrong
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Both really. How much time should we dedicate to making our map fit the territory before we start sacrificing optimality? Spend too long trying to improve epistemic rationality and you begin to sacrifice your ability to get to work on actual goal seeking.
On the other end, if you don't spend long enough to improve your map, you may be inefficiently or ineffectively trying to reach your goals.
We're still thinking of ways to be able to quantify these. Largely it depends on the specific goal and map/territory as well as the person.
Anybody else have some ideas?
In AI, this is known as the exploration/exploitation problem. You could try Googling "Multi-armed bandit" for an extremely theoretical view.
My biggest recommendation is to do a breadth-first search, using fermi calculations for value-of-information. If people would be interested, I could maybe write a guide on how to do this more concretely?