Lumifer comments on Rationality Quotes September 2014 - Less Wrong

8 Post author: jaime2000 03 September 2014 09:36PM

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Comment author: Lumifer 04 September 2014 02:58:43PM 12 points [-]

I speaks to anchoring and evaluating incentives relative to an expected level.

Basically, receiving a raise is seen as a good thing because you are getting more money than a month ago (anchor). But after a while you will be getting the same amount of money as a month ago (the anchor has moved) so there is no cause for joy.