Does anyone really track the marginal utility of their possible investment this way? Utilons—sure. But ROI on status? ROI on “warm fuzzies”?
Also, this assumes we have good estimates of the ROI on all our options. Where do these estimates come from? In the real world, we often seem to spread our bets - constantly playing a game of multi-armed bandit with concept drift.
Does anyone really track the marginal utility of their possible investment this way? Utilons—sure. But ROI on status? ROI on “warm fuzzies”?
Also, this assumes we have good estimates of the ROI on all our options. Where do these estimates come from? In the real world, we often seem to spread our bets - constantly playing a game of multi-armed bandit with concept drift.