Despard comments on The wandering rationalist - Less Wrong
You are viewing a comment permalink. View the original post to see all comments and the full post content.
You are viewing a comment permalink. View the original post to see all comments and the full post content.
Comments (27)
Interestingly, there are two ways to do this and I'm not sure which is better. The first is estimating a probability that you'll be able to find a ride across any particular arc, and then calculating the cost (and stopping and buying the pass if it's more than $450/(1-p)). The second is calculating the cost C, and then asking "is p>(C-$450)/C?" (Both assuming risk neutrality.)
If Ridejoy publishes any numbers about success rates, then the first is probably the better choice, but if you're guessing, it might be psychologically easier to do the second (though it also puts you at risk for anchoring).
Wise choice!