One reason people might pick the $500 is because they’ll come out better off than 85% of people who take the more rational course.
It is little comfort to be able to claim to have made the right decision when everyone who made the less rational decision is waving a stack of money in your face and laughing at the silly rationalist.
People don’t want to be rich—they just want to be richer than their next door neighbour.
One reason people might pick the $500 is because they’ll come out better off than 85% of people who take the more rational course. It is little comfort to be able to claim to have made the right decision when everyone who made the less rational decision is waving a stack of money in your face and laughing at the silly rationalist. People don’t want to be rich—they just want to be richer than their next door neighbour.