I’ve seen this claim from behavioral economists before. It shouldn’t be hard to prove that the marginal expected value of information-gathering is maximal (for constant information-gathering opportunities) when two choices have equal expected value. Whatever “harder choices matter less” means, it should be consistent with that.
I’ve seen this claim from behavioral economists before. It shouldn’t be hard to prove that the marginal expected value of information-gathering is maximal (for constant information-gathering opportunities) when two choices have equal expected value. Whatever “harder choices matter less” means, it should be consistent with that.