Lumifer comments on Visions and Mirages: The Sunk Cost Dilemma - 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 (68)
You're strongly provoking category confusion in this subthread.
In game-theoretic scenarios where the other party can change your payoffs (or the rules of the game) notions like the Sunk Cost Fallacy are not operational, it's the wrong approach to a introduce them into the analysis. Of course it can be gamed, that's a pretty obvious observation. It's like trying to run regressions in the Milton Friedman's thermostat situation.