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Risto_Saarelma comments on Motivation and Merciless Commitment Contracts - Less Wrong Discussion

5 Post author: peirce 08 August 2013 12:27AM

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Comment author: Risto_Saarelma 08 August 2013 08:54:30AM 2 points [-]

Value of information. Unless you have literally zero interest in finding out, there should be some sum of money, possibly less than $5, equal to the value of learning what you will actually do when you set up a contract for yourself.

Comment author: Lumifer 08 August 2013 03:32:16PM 2 points [-]

Unless you have literally zero interest in finding out, there should be some sum of money, possibly less than $5, equal to the value of learning what you will actually do when you set up a contract for yourself.

That's tricky. The experience of setting up a commitment contract for 0.0001% of your wealth is unlikely to provide any learning as to what you will actually do in response to a commitment contract of 5% (or 50%) of your wealth.