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Solvent comments on The Optimizer's Curse and How to Beat It - Less Wrong

44 Post author: lukeprog 16 September 2011 02:46AM

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Comment author: Solvent 16 September 2011 09:07:15PM 2 points [-]

No, because the lowest bid is a commitment from the contractor, not an estimate. This particular problem arises from trying to pick the best option from several estimates.

Comment author: CronoDAS 18 September 2011 10:43:32PM 7 points [-]

Sometimes contractors run out of money before finishing and you have to pay more or they leave you with a half-finished project :(