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SilasBarta comments on So You Want to Save the World - Less Wrong
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Comments (146)
This is an incorrect description of 5-and-10. The description given is of a different problem (one of whose aspects is addressed in the recent cousin_it's writeup, the problem is resolved in that setting by Lemma 2).
5-and-10 problem is concerned with the following (incorrect) line of reasoning by a hypothetical agent:
"I have to decide between $5 and $10. Suppose I decide to choose $5. I know that I'm a money-optimizer, so if I do this, $5 must be more money than $10, so this alternative is better. Therefore, I should choose $5."
That's strange, Luke normally has good understanding of his sources, and uses and explains them correctly, and so usually recognizes an incorrect explanation.