Consider the difference between the frame of expected value/probability theory and the frame of bounded optimality/error minimization. Under the second frame the question becomes “how can I manipulate my environment such that I wind up in close proximity to the errors that I have a comparative advantage in spotting?”
Consider the difference between the frame of expected value/probability theory and the frame of bounded optimality/error minimization. Under the second frame the question becomes “how can I manipulate my environment such that I wind up in close proximity to the errors that I have a comparative advantage in spotting?”