I was expecting on the assumtinos of the question braking down on increasingly big numbers.
Let me give a try on giving a more real life problem that woudl have charasterisitcs of being a case where absense of a perfectly rational choice comes into play.
You have stumbled upon a perfect counterfeit machine. How much money should you print with it? While for small amounts the obvious way to do better is to just print more once you start stating amounts larger than GDPs of whole countries things start to break down. An addiotional coin doesn’t represent a new fresh same portion buying power than the last one. it is also similar in that the more money you print the larger share of the buying power of the money you own but you can only approach but never reach it being 100%. For some arbitrary big number the average worth of a person lifesaving totals 0.0005$ cents when it could have been only 0.000000000005$ if you had named a greater number.
And there is also a good analog about the “ongoer” solution being pretty bad. If you just keep printing money you are never going to offer that money in the local shop because you are busy printing money. Even if you like generate enough money to just buy every real estate in the planet you need to leave the room before you suffocate into your money. But it does mean you don’t have to think about how much you should work for salary because you don’t need to ever work. But if you had a friend that tried to go to the local shop by candy since you suddenly can afford it would be foolish to forbid him doing so because he needs to keep on printing money and not settle for a finite or smaller amount of money.
If you make an assumtino that cows are spherically symmetric and derive a solution based on that it doesn’t really matter if you missed some more optimal solution that strongly depended them on being exactly spherically symmetric. When you keep on making these kind of simplistic assumtions it comes more and more closer to asking “what I should do if I wasn’t me?”. If you know things like “Gold holders should sell their gold” at some point it is more interesting to answer “Am I a gold owner?” rather than hone gold selling strategies.
I was expecting on the assumtinos of the question braking down on increasingly big numbers.
Let me give a try on giving a more real life problem that woudl have charasterisitcs of being a case where absense of a perfectly rational choice comes into play.
You have stumbled upon a perfect counterfeit machine. How much money should you print with it? While for small amounts the obvious way to do better is to just print more once you start stating amounts larger than GDPs of whole countries things start to break down. An addiotional coin doesn’t represent a new fresh same portion buying power than the last one. it is also similar in that the more money you print the larger share of the buying power of the money you own but you can only approach but never reach it being 100%. For some arbitrary big number the average worth of a person lifesaving totals 0.0005$ cents when it could have been only 0.000000000005$ if you had named a greater number.
And there is also a good analog about the “ongoer” solution being pretty bad. If you just keep printing money you are never going to offer that money in the local shop because you are busy printing money. Even if you like generate enough money to just buy every real estate in the planet you need to leave the room before you suffocate into your money. But it does mean you don’t have to think about how much you should work for salary because you don’t need to ever work. But if you had a friend that tried to go to the local shop by candy since you suddenly can afford it would be foolish to forbid him doing so because he needs to keep on printing money and not settle for a finite or smaller amount of money.
If you make an assumtino that cows are spherically symmetric and derive a solution based on that it doesn’t really matter if you missed some more optimal solution that strongly depended them on being exactly spherically symmetric. When you keep on making these kind of simplistic assumtions it comes more and more closer to asking “what I should do if I wasn’t me?”. If you know things like “Gold holders should sell their gold” at some point it is more interesting to answer “Am I a gold owner?” rather than hone gold selling strategies.