This rerun doesn’t get any better on a second viewing. The post basically amounts to EY insisting that the common preference pattern in the Allais paradox really is irrational. Well, no, it isn’t really. Regret isn’t necessarily irrational, even when an arguably good decision leads to bad luck, and neither is the desire to avoid it.
This rerun doesn’t get any better on a second viewing. The post basically amounts to EY insisting that the common preference pattern in the Allais paradox really is irrational. Well, no, it isn’t really. Regret isn’t necessarily irrational, even when an arguably good decision leads to bad luck, and neither is the desire to avoid it.