Eliezer_Yudkowsky comments on Beware of Other-Optimizing - Less Wrong

79 Post author: Eliezer_Yudkowsky 10 April 2009 01:58AM

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Tags: overconfidence productivity akrasia other_optimizing

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Comment author: Kaj_Sotala 10 April 2009 05:32:44PM 2 points [-]

One of the critical events was when someone on the Board of the Institute Which May Not Be Named, told me that I didn't need a salary increase to keep up with inflation - because I could be spending substantially less money on food if I used an online coupon service. And I believed this, because it was a friend I trusted, and it was delivered in a tone of such confidence. So my girlfriend started trying to use the service, and a couple of weeks later she gave up.

You got me curious - what was the problem?

Comment author: Eliezer_Yudkowsky 10 April 2009 05:34:58PM 2 points [-]

It was a while ago and I'd have to ask her to see if she remembered. But if it had been providing large gains for little work I expect she'd have kept on doing it, so conversely, I suppose it was providing little gain for large work.

Comment author: mattnewport 10 April 2009 06:45:12PM 5 points [-]

Which doesn't really contradict the claim that you "could be spending substantially less money on food if [you] used an online coupon service". That claim is probably literally true, it just ignores the fact that in your situation the monetary savings were not worth the time/effort cost.

Much not-exactly-wrong advice falls down by ignoring opportunity cost.

Comment author: SoullessAutomaton 10 April 2009 06:30:31PM 3 points [-]

I suppose it was providing little gain for large work.

This is consistent with the purpose of coupons, to enable price discrimination by offering discounts only for people with more time than money.

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