If it’s a framing issue, which framing do you think is the correct one, i.e., which one reveals his real preferences, or the path he genuinely considers optimal?
John would prefer a good person in his lab to an extra £0.5mn in annual funding.
but he would prefer not having that good person over paying her £0.5mn annually. His real preference is to pay only a “fair” salary over getting the job done. In fact, he’d, in all likelihood, rather contract out a £0.5mn job to an external company than pay the same amount as a salary internally.
If it’s a framing issue, which framing do you think is the correct one, i.e., which one reveals his real preferences, or the path he genuinely considers optimal?
but he would prefer not having that good person over paying her £0.5mn annually. His real preference is to pay only a “fair” salary over getting the job done. In fact, he’d, in all likelihood, rather contract out a £0.5mn job to an external company than pay the same amount as a salary internally.